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THOR
ANNOUNCES
RV
SALES
UP
March
2008
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A
recession?
RV
sales
up!
Thor
Industries
announced results for the second quarter and six months ended January 31, 2008.
Net income for the quarter was $21,602,000, up 18% from $18,252,000 last year.
E.P.S. for the quarter were 39˘, up
18% from 33˘ last year. Sales for the quarter were $599,170,000, up 3% from $584,049,000 last year. Income before
taxes in the quarter was $35,206,000, up 34% from $26,242,000.
“Gross and net margins increased in both the quarter and six months in each
segment
-
towables, motorized, and
buses
-
due
to improved manufacturing efficiencies, lower warranty costs, higher interest income, and a gain on sale of real
estate,” said Wade F. B. Thompson, Thor Chairman. “We are pleased with these results to date and expect to continue to
outperform the competition in the difficult RV market,” he added.
Net income for the six months was $59,811,000, up 22% from $48,849,000 last year. Diluted E.P.S. for the six months
were $1.07, up 23% from 87˘ last year. Sales for the six months were $1,362,906,000, up 4% from $1,311,765,000 last
year.
RV sales in the quarter were $505,266,000, up 3% from $490,634,000 last year. Bus sales in the quarter were
$93,904,000 compared to $93,415,000 last year. RV sales in the six months were $1,169,477,000 up 4% from
$1,126,512,000 last year. Bus sales in the six months were a record $193,429,000 up 4% from $185,253,000 last year.
RV income before tax was $34,053,000 in the quarter, up 35% from $25,272,000 last year and $91,718,000 in the six
months, up 28% from $71,740,000 last year. Bus income before tax in the quarter was $3,556,000 up 13% from
$3,154,000 last year and $7,695,000 in the six months, up 25% from $6,174,000 last year. Corporate net costs were
$2,403,000 in the quarter versus $2,184,000 last year and $3,727,000 in the six months versus $2,676,000 last year.
Cash, cash equivalents and short term investments on January 31, 2008, were $234.3 million, up from $210.0 million last
year and the company continues to have zero debt.
Thor is the world’s largest manufacturer of recreation vehicles.
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What
do
you
think?
...
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Readers'
comments:
Dandy Darlene
:
I dont know about all of you but I drive a 36 ft long Class A motorhome and it is hard to park let alone fill the tank!
Bluebird Bob
:
Since Thor makes only low quality products and the people buying them don't do their research, I can see why they are having a good year.
Arol
:
Does Thor make a quality class B?
TITAN116600
:
WHAT DOES THIS HAVE TO DO WITH THE COST OF A LOAF OF BREAD OR A GALLON OF GAS???
JP
:
When did Thor outbuild Fleetwood? And how is the rest of the industry doing with the highend diesel pushers? I expect most of the gains are in the toybox and lower end towables, and the class B's
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