Thor Reports 25% Decline in RV Sales
Thor Industries Inc. reported sharply lower RV sales revenue during the second quarter of its fiscal year 2001, which ended on Jan. 31.
The company’s RV revenues declined 25% to $99.8 million during the November-through-January period.
Thor’s total sales during the three months ended Jan. 31 declined 13% to $169.2 million because the decline in RV revenues was partially offset by a 16% increase in bus sales, which increased to $69.4 million.
Meanwhile, Thor’s second fiscal quarter earnings plunged 53% to $3.2 million.
During the six months ended Jan. 31, Thor’s RV sales declined 21% to $235.7 million. Its total sales during the six-month period slipped 10% to $374.4 million and its bus revenues climbed 17% during the first six months of its fiscal 2001 to $138.7 million.
Thor’s earnings during the six months ended Jan. 31 were down 29% to $11.6 million.
The company’s RV order backlog as of Jan. 31 was down 41% from Jan. 31, 2000, according to Thor management.