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Friday, February 03, 2012

Thor announces preliminary sales for 2Q, six months
By Kelly Cauthorn @ 3:53 AM :: :: 0 Comments ::

:: RV Industry

JACKSON CENTER, Ohio -- Thor Industries, Inc. (NYSE:THO) announced preliminary sales, backlog, cash and investments for the second quarter and six months ended Jan. 31, 2012.

Preliminary consolidated sales in the quarter were $596,400,000, up 13 percent from $526,227,000 last year. RV sales were $500,657,000, up 15 percent from $437,111,000 last year. Bus sales were $95,743,000, up seven percent from $89,116,000 last year.

Consolidated sales in the six months were $1,269,400,000, up 12 percent from $1,132,911,000 last year. RV sales in the six months were $1,062,317,000, up 13 percent from $943,674,000 last year. Bus sales in the six months were $207,083,000, up nine percent from $189,237,000 last year.

Cash, cash equivalents and investments on Jan. 31, 2012 were $157 million, lower compared to the prior quarter primarily as a result of the repurchase of two million shares of Thor stock on Jan. 20, 2012 for $57 million. Consolidated backlog on January 31, 2012 was $647 million, compared to $689 million last year. RV backlog was $413 million, in comparison with $467 million last year. Bus backlog was $234 million, up five percent from $222 million last year.

“Sales momentum remains strong for Thor, with good results seen in both our RV and Bus businesses through the first half of the fiscal year,” said Peter B. Orthwein, Thor Chairman, CEO & President. “Results from January retail RV shows have been positive, with good attendance and retail sales activity reported at most shows, reflecting rebounding consumer confidence, access to credit, and low interest rates. Internal tracking of Thor’s recent retail RV sales activity has also been encouraging. Discounting remains a factor in the competitive RV and bus markets, although Thor continues to be well positioned in each of its product categories to take advantage of improving market trends.”

SOURCE: Thor Industries, Inc.

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