September 2010
Volume 37 - Number 2


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May 25, 2010 485
Thor Announces Preliminary Sales for Quarter, Nine Months; Backlog, Cash and Investments, Sale of Canadian Operations


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Thor Industries (NYSE:THO) announced today preliminary sales and backlog for the quarter and nine months ended April 30, 2010, and the divestiture of its Canadian RV and Park Model operations.

Sales in the quarter were $679 million, up 64% from $415 million last year. RV sales were $558 million, up 79% from $312 million last year. Specialty Vehicle sales, which include buses and ambulances were $121 million, up 17% from $103 million last year.

Sales in the 9 months were $1.61 billion, up 49% from $1.08 billion last year. RV sales were $1.28 billion, up 65% from $777 million last year. Specialty Vehicle sales were $328 million, up 8% from $304 million last year.

Cash, cash equivalents and investments on April 30, 2010 were $155 million versus $296 million last year. Backlog on April 30, 2010 was $667 million, up 51% from $442 million last year. RV backlog was $448 million, more than double $214 million last year. Specialty Vehicle backlog was $219 million versus $228 million last year.

Thor also announced that it had sold its Citair Inc. subsidiary, d.b.a. General Coach Canada, to management, effective April 30, 2010.

"The RV industry continues a strong wholesale re-stocking trend, as evidenced by Thor's large order backlog," said Peter B. Orthwein, Thor Chairman, CEO & President. "Importantly, Thor's recent internal retail sales results also demonstrate substantial improvement over last year, including the March and April periods. This bodes well for a better balance between retail demand and wholesale replenishment as we move forward," he added.

Source Thor Industries

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