SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549



FORM 10-Q



þ	QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934





For the quarterly period
ended January 31, 2018 or



 ̈	TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934



For the transition
period from __________ to ___________



Commission File No.
1-5926



| | MILLER INDUSTRIES, INC.                                | 
| | ------------------------------------------------------ | 
| | (Exact Name of Registrant as Specified in its Charter) | 



|Florida                                                        |  | 59-0996356                          
|-------------------------------------------------------------- |  | ------------------------------------
|(State or Other Jurisdiction of Incorporation or Organization) |  | (I.R.S. Employer Identification No.)





| | 1521 N.W. 165th Street, Miami, Florida  33169                                      | 
| | ---------------------------------------------------------------------------------- | 
| | (Address of Principal Executive Offices                                            | 
| |                                                                                    | 
| | (305) 621-0501                                                                     | 
| | (Registrant’s telephone number, including area code                                | 
| |                                                                                    | 
| | Not Applicable                                                                     | 
| | (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) | 





Indicate by check mark whether the registrant: (1) has filed
all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
of such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing required
for the past 90 days.



Yes  ̈ No þ



Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such files).



Yes  ̈
No þ





Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting
company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.





|Large accelerated filer  ̈ | Accelerated filer  ̈ | Non-accelerated filer  ̈ | Smaller reporting company þ | Emerging
growth company  ̈
|------------------------- | ------------------- | ----------------------- | --------------------------- | -------------------------





If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ̈





Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act).



Yes  ̈
No þ





The number of shares outstanding of each
of the issuer’s classes of common stock, par value $.05 per share, as of January 31, 2018 is 5,000,000 shares.




















MILLER INDUSTRIES, INC.



FORM 10-Q

January 31, 2018







INDEX





|                              |                                                                                       | Page No.
|----------------------------- | ------------------------------------------------------------------------------------- | --------
|PART I: FINANCIAL INFORMATION |                                                                                      
|                              |                                                                                      
|Item 1.                       | Financial Statements                                                                  | 2       
|                              |                                                                                       |         
|                              | Balance Sheets dated as of January 31, 2018 and April 30, 2017                        | 2       
|                              |                                                                                       |         
|                              | Statement of Operations – Three Months Ended January 31, 2018 and 2017                | 4       
|                              |                                                                                       |         
|                              | Statement of Operations – Nine Months Ended January 31, 2018 and 2017                 | 5       
|                              |                                                                                       |         
|                              | Statement of Cash Flows – Nine Months Ended January 31, 2018 and 2017                 | 6       
|                              |                                                                                       |         
|                              | Notes to Financial Statements                                                         | 7       
|                              |                                                                                       |         
|Item 2.                       | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 9       
|                              |                                                                                       |         
|Item 3.                       | Quantitative and Qualitative Disclosures about Market Risk                            | 10      
|                              |                                                                                       |         
|Item 4.                       | Controls and Procedures                                                               | 10      
|                              |                                                                                       |         
|PART II: OTHER INFORMATION    |                                                                                      
|                              |                                                                                       |         
|Item 6.                       | Exhibits                                                                              | 11      
|                              |                                                                                       |         
|Signatures                    | 12                                                                                   





i







PART I. FINANCIAL INFORMATION



|ITEM 1. | FINANCIAL STATEMENTS
|------- | --------------------



MILLER
INDUSTRIES, INC.

BALANCE
SHEET



JANUARY
31, 2018

(UNAUDITED)







|ASSETS                                                                                       
|---------------------------------------------------------------------------------------------
|                                                                                             
|Investment Property:                                                                         
|Land                                                                                         
|Building and Improvements                                                                    
|Machinery and Equipment                                                                      
|Furniture and Fixtures                                                                       
|Total Cost                                                                                   
|Less:  Accumulated Depreciation                                                              
|Net Book Value                                                                               
|Other Assets:                                                                                
|Cash and Cash Equivalents                                                                    
|Accounts Receivable                                                                          
|Prepaid Expenses and Other Assets                                                            
|Loan Costs, Less Accumulated Amortization of $8,767                                          
|Deferred Tax                                                                                 
|Total Other Assets                                                                           
|                                                                                             
|TOTAL ASSETS                                                                                 
|                                                                                             
|LIABILITIES AND SHAREHOLDERS’ EQUITY                                                         
|Liabilities:                                                                                 
|Mortgage and Notes Payable                                                                   
|Accounts Payable and Accrued Expenses                                                        
|Tenant Deposits and Advance Rent                                                             
|Income Tax Payable                                                                           
|                                                                                             
|Total Liabilities                                                                            
|                                                                                             
|Shareholders’ Equity:                                                                        
|Common Stock - $.05 par, 5,000,000 shares Authorized; 5,000,000 shares issued and Outstanding
|Paid-In Capital                                                                              
|Deficit                                                                                      
|                                                                                             
|Total Shareholders’ Equity                                                                   
|                                                                                             
|TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                                                   









See accompanying notes to financial statements.





2







MILLER INDUSTRIES, INC.

BALANCE SHEET

April 30, 2017





|ASSETS                                                                                       
|---------------------------------------------------------------------------------------------
|                                                                                             
|Investment Property:                                                                         
|Land                                                                                         
|Building and Improvements                                                                    
|Machinery and Equipment                                                                      
|Furniture and Fixtures                                                                       
|Total Cost                                                                                   
|Less:  Accumulated Depreciation                                                              
|Net Book Value                                                                               
|Other Assets:                                                                                
|Cash and Cash Equivalents                                                                    
|Accounts Receivable                                                                          
|Prepaid Expenses and Other Assets                                                            
|Prepaid Income Taxes                                                                         
|Loan Costs, Less Accumulated Amortization of $7,962                                          
|Deferred Tax                                                                                 
|Total Other Assets                                                                           
|                                                                                             
|TOTAL ASSETS                                                                                 
|                                                                                             
|LIABILITIES AND SHAREHOLDERS’ EQUITY                                                         
|Liabilities:                                                                                 
|Mortgage and Notes Payable                                                                   
|Accounts Payable and Accrued Expenses                                                        
|Tenant’s Deposits and Advance Rent                                                           
|Total Liabilities                                                                            
|                                                                                             
|Shareholders’ Equity:                                                                        
|Common Stock - $.05 par, 5,000,000 shares Authorized; 5,000,000 shares issued and Outstanding
|Paid-In Capital                                                                              
|Deficit                                                                                      
|                                                                                             
|Total Shareholders’ Equity                                                                   
|                                                                                             
|TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                                                   





See Accompanying Notes to Financial Statements.



3







MILLER INDUSTRIES, INC.



STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED JANUARY 31,
2018 AND 2017

(UNAUDITED)







|                                           |  | 1/31/18 |           |  | 1/31/17 |  
|------------------------------------------ |  | ------- | --------- |  | ------- | -
|Revenues:                                  |  |         |           |  |         |  
|Rental Income                              |  | $       | 108,670   |  |         | $
|Utility and Tax reimbursements             |  |         | 26,776    |  |         |  
|Other Income                               |  |         | 1,677     |  |         |  
|                                           |  |         |           |  |         |  
|Total Revenues                             |  | $       | 137,143   |  |         | $
|                                           |  |         |           |  |         |  
|Expenses:                                  |  |         |           |  |         |  
|Rental Expenses (Except Interest)          |  | $       | 83,501    |  |         | $
|Administrative                             |  |         | 20,393    |  |         |  
|Interest                                   |  |         | 9,205     |  |         |  
|                                           |  |         |           |  |         |  
|Total Expenses                             |  | $       | 113,099   |  |         | $
|                                           |  |         |           |  |         |  
|Income Before Tax Provision                |  | $       | 24,044    |  |         | $
|                                           |  |         |           |  |         |  
|Provision for Income Tax:                  |  |         |           |  |         |  
|Federal Income Tax                         |  | $       | 12,375    |  |         | $
|State Income Tax                           |  |         | 1,000     |  |         |  
|                                           |  |         |           |  |         |  
|Total Provision for Income Tax             |  | $       | 13,375    |  |         | $
|Net Income                                 |  | $       | 10,669    |  |         | $
|                                           |  |         |           |  |         |  
|Income per Common Share (Basic)            |  | $       | .00       |  |         | $
|                                           |  |         |           |  |         |  
|Average Shares of Common Stock Outstanding |  |         | 5,000,000 |  |         |  





See Accompanying Notes to Financial
Statements.





4







MILLER INDUSTRIES, INC.

STATEMENT OF OPERATIONS



FOR THE NINE MONTHS ENDED JANUARY 31,
2018 AND 2017

(UNAUDITED)









|                                           |  | 1/31/18 |           |  | 1/31/17 |  
|------------------------------------------ |  | ------- | --------- |  | ------- | -
|Revenues:                                  |  |         |           |  |         |  
|Rental Income                              |  | $       | 425,402   |  |         | $
|Utility and Tax reimbursements             |  |         | 69,926    |  |         |  
|Other Income                               |  |         | 5,173     |  |         |  
|                                           |  |         |           |  |         |  
|Total Revenues                             |  | $       | 500,501   |  |         | $
|                                           |  |         |           |  |         |  
|Expenses:                                  |  |         |           |  |         |  
|Rental Expenses (Except Interest)          |  | $       | 238,431   |  |         | $
|Administrative                             |  |         | 54,977    |  |         |  
|Interest                                   |  |         | 23,711    |  |         |  
|                                           |  |         |           |  |         |  
|Total Expenses                             |  | $       | 317,119   |  |         | $
|                                           |  |         |           |  |         |  
|Income Before Tax Provision                |  | $       | 183,382   |  |         | $
|                                           |  |         |           |  |         |  
|Provision (Benefit) for Income Tax:        |  |         |           |  |         |  
|Federal Income Tax                         |  | $       | 62,375    |  |         | $
|State Income Tax                           |  |         | 9,000     |  |         |  
|Total Provision for Income Tax             |  | $       | 71,375    |  |         | $
|                                           |  |         |           |  |         |  
|Net Income                                 |  | $       | 112,007   |  |         | $
|                                           |  |         |           |  |         |  
|Income per Common Share (Basic)            |  | $       | .02       |  |         | $
|                                           |  |         |           |  |         |  
|Average Shares of Common Stock Outstanding |  |         | 5,000.000 |  |         |  





See Accompanying Notes to Financial
Statements.



5







MILLER INDUSTRIES, INC.



STATEMENT OF CASH FLOWS

FOR THE NINE MONTHS ENDED JANUARY 31,
2018 AND 2017

(UNAUDITED)







|                                                                                             |  | 1/31/18 |           |   | 1/31/17 |  
|-------------------------------------------------------------------------------------------- |  | ------- | --------- | - | ------- | -
|Cash Flows from Operating Activities:                                                        |  |         |           |   |         |  
|                                                                                             |  |         |           |   |         |  
|Net Income                                                                                   |  | $       | 112,007   |   |         | $
|Adjustments to Reconcile Net Income to Net Cash Provided by (used for) Operating Activities: |  |         |           |   |         |  
|Provision for Bad Debts                                                                      |  |         |           |   |         |  
|Depreciation                                                                                 |  |         | 8,914     |   |         |  
|Amortization                                                                                 |  |         |           |   |         |  
|Changes in Operating Assets and Liabilities                                                  |  |         | (173,842  | ) |         |  
|                                                                                             |  |         |           |   |         |  
|Net Cash Provided by Operating Activities                                                    |  | $       | (52,921   | ) |         |  
|                                                                                             |  |         |           |   |         |  
|Cash Flows from Investing Activities:                                                        |  |         |           |   |         |  
|Acquisition of Property, Equipment, and Intangible                                           |  | $       |           |   |         | $
|                                                                                             |  |         |           |   |         |  
|Net Cash (used by) Investing Activities                                                      |  | $       |           |   |         | $
|                                                                                             |  |         |           |   |         |  
|Cash Flows from Financing Activities:                                                        |  |         |           |   |         |  
|Principal Payments Under Borrowings                                                          |  | $       | (33,435   | ) |         | $
|                                                                                             |  |         |           |   |         |  
|Net Cash Provided by (used by) Financing Activities                                          |  | $       | (33,435   | ) |         | $
|                                                                                             |  |         |           |   |         |  
|Net Increase in Cash and Cash Equivalents                                                    |  | $       | (86,356   | ) |         | $
|                                                                                             |  |         |           |   |         |  
|Cash and Cash Equivalents at the Beginning of Year                                           |  |         | 2,007,930 |   |         |  
|Cash and Cash Equivalents at the End of Quarter                                              |  | $       | 1,921,574 |   |         | $
|                                                                                             |  |         |           |   |         |  
|Additional Cash Flow Information:                                                            |  |         |           |   |         |  
|Cash Payments During the Year                                                                |  |         |           |   |         |  
|Interest                                                                                     |  | $       | 25,250    |   |         | $
|Income Taxes                                                                                 |  | $       | 42,733    |   |         | $





See Accompanying Notes to Financial Statements.





6







MILLER INDUSTRIES, INC.



NOTES TO FINANCIAL STATEMENTS

JANUARY 31, 2018

(UNAUDITED)





NOTE A – BASIS OF PRESENTATION



The accompanying unaudited financial statements have been prepared
in accordance with generally accepted accounting principles for interim financial information and with the instructions to Article
10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals)
considered necessary for a fair presentation have been included. Operating results for the nine month period ending January 31,
2018 are not necessarily indicative of results that may be expected for the year ended April 30, 2018.



For further information refer to the financial statements and
footnotes thereto of the Company as of April 30, 2017 and for the year ended April 30, 2017.



NOTE B - Earnings Per Share -



Basic earnings per share (“EPS”) is computed by
dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period,
excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common
stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average
stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants).
Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive.



NOTE C - Use of Estimates -



The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts
reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The most
significant estimates included in the preparation of the financial statements are related to income taxes, asset lives,
accruals and valuation allowances.





7









NOTE D – Commitments, Contingent Liabilities, Other
Matters, and Subsequent Events



On December 22, 2017, the Tax Cuts and Jobs Act (TCTA) was enacted.
The Act includes a number of changes to the existing tax code, most notably a reduction of the US corporate income tax rate from
a graduated set of rates with a maximum of 35 percent to a flat rate of 21%. Additionally the bill introduces many changes that
impact corporations some of which is the net operating loss deduction subject to annual limitations, interest expense deduction
subject to annual limitations, elimination of the alternative minimum tax and immediate expenses of the full cost of qualified
property.



Changes in tax rates and tax laws are accounted for the in the
period of enactment. Therefore the net deferred tax assets were reduced by $10,125 with a corresponding adjustment to current period
tax expense for the remeasurement of the Company’s U.S. deferred tax assets. Our federal income tax expense for the periods
beginning in 2018 will be based on the new rate.



Starting on Feb. 1, 2018 a three-year lease has been agreed upon with a third party lessee for 2,935 square
feet of space. Lease terms are a total rent of $129,914 for the three years with the lease having an option to extend the lease
an additional three years.





8







|ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
|------- | -------------------------------------------------------------------------------------





Results of Operations (Third Quarter of 2018 Fiscal Year
compared to Third Quarter of 2017 Fiscal Year)



Rental Income. The Company’s results of operations
are primarily dependent upon the rental income which it receives from leasing space in its building. Rental income is a function
of the percentage of the building which is occupied and the level of rental rates. Rental income through the third quarter of 2017
was $432,000, compared to $425,000 in the third quarter of 2018.



Other Income. The Company generated other income of $4,854
through the third quarter of fiscal year 2017 and $5,173 in the third quarter of 2018. Other income in these quarters consisted
of interest income and miscellaneous income.



Rental Expense (Excluding Interest). The Company incurs
rental expense in connection with the leasing of its building. These expenses consist of management fees, insurance, real estate
taxes, depreciation and amortization, maintenance and repairs, utility costs and outside services. Rental expenses were $263,000
through the third quarter of 2017 and $238,000 through the third quarter of 2018.



Administrative Expenses. The Company’s administrative
expenses were $40,000 in the first three quarters of fiscal years 2017 and $55,000 for 2018.



Interest Expense. The Company pays interest on the mortgage
loan on its building. Interest expense on the loan was $22,000 in the first three quarters of fiscal years 2017 and $23,700 for
2018.



Provision for Income Taxes. The Company had a tax provision
of $77,200 in the first three quarter of fiscal 2017 and $71,375 in 2018.



Net Income. As a result of the foregoing factors, The Company
had net income of $122,500 in the first three quarters of fiscal 2017 and $112,000 in first three quarters of 2018.



Liquidity and Capital Resources



The Company’s cash increased by $45,000 during the nine
months of fiscal year 2017 compared to an decrease of $86,000 during the first nine months of fiscal year 2018. As of January 31,
2018, The Company’s cash position was approximately $1,921,000.



Current Operations



The Company operates as a real estate investment and management
company. The Company is currently seeking to obtain additional commercial tenants for its existing building.



The Company’s principal operating expenses consist of
management and professional fees associated with the administration of the Company, interest expense on the Company’s mortgage
loan, real estate taxes and insurance.



9







|ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
|------- | ----------------------------------------------------------





We are a smaller reporting issuer as defined in Item 10 of Regulation
S-K and are not required to report the quantitative and qualitative measures of market risk specified in Item 305 of Regulation
S-K.



|ITEM 4. | CONTROLS AND PROCEDURES
|------- | -----------------------





In connection with the filing of this Form 10-Q, the Company’s
Chief Executive Officer and Chief Financial Officer evaluated the effectiveness of the Company’s disclosure controls and
procedures as of January 31, 2018. The Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s
disclosure controls and procedures were effective as of January 31, 2018.



There were no changes in the Company’s internal controls
over financial reporting that materially affected, or are reasonably likely to materially affect, the Company’s internal
control over financial reporting during the fiscal quarter ended January 31, 2018.



10







PART II. OTHER INFORMATION



|ITEM 6. | EXHIBITS
|------- | --------



| | (a) | Exhibits
| | --- | --------



| | Exhibit No. | Description                                                                                                                                                                          
| | ----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |             |                                                                                                                                                                                      
| | (31.1)      | Certification of Principal Executive Officer pursuant to Rule 13a-14(a).                                                                                                             
| |             |                                                                                                                                                                                      
| | (31.2)      | Certification of Principal Financial Officer pursuant to Rule 13a-14(a).                                                                                                             
| |             |                                                                                                                                                                                      
| | (32.1)      | Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



| | (b) | Reports on Form 8-K.
| | --- | --------------------



Not
applicable.



11







SIGNATURE



Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



|                    |  | MILLER INDUSTRIES, INC.
|------------------- |  | -----------------------
|                    |  |                        
|                    |  |                        
|                    |  |                        
|Dated:  May 9, 2018 |  | By:                    
|                    |  |                        





12