Thor Industries Enjoys Strong Second Quarter
Thor Industries, Inc., the world’s largest manufacturer of recreational vehicles, is reporting increased sales and net income for the second quarter, which ended on January 31, 2010.
According to Thor’s records, net income for the second quarter was $11,924,000 versus a loss of $14,860,000 last year. Net income for the first two quarters combined was $35,353,000, compared to a loss of $9,740,000 last year. Overall sales for the second quarter were $430 million, up 90 percent from $226.7 million last year. Sales for the six months were $932.6 million, up 40 percent from $665.5 million last year.
Thor also manufacturers commercial buses, but much of the company’s recent success comes from its RV division. RV income before tax in the quarter was $18,057,000 compared to a loss of $19,840,000 last year. RV income before tax for the six months ended January 31, 2010 was $49,699,000 compared to a loss of $14,068,000 last year, a $64 million turnaround. RV sales in the quarter were $335.8 million, up 150 percent from $134.6 million last year. Bus sales in the quarter were $94.2 million, up two percent from $92.1 million last year. RV sales for the six months ended January 31, 2010 were $725.7 million, up 56% from $465.0 million last year.
“Thor’s results continue to progress, propelled by improving RV market conditions and strong bus efficiencies,” says Peter B. Orthwein, Thor chairman. “We continue to be profitable in all segments of our businesses, including motor homes, reflecting the permanent cost reductions we have made.”
