Thor Industries Posts 9% Growth in 3Q Sales
Jackson Center, Ohio-based Thor Industries Inc. reported a 9% increase in sales for its fiscal third quarter, ended April 30.
Preliminary consolidated sales in the third quarter were $925.35 million, up from $852 million in the third quarter last year. RV sales in the quarter were $806.5 million, a 9% increase from $742.8 million the previous year. Bus sales in the quarter also rose 9% to $118.9 million compared $109.3 million a year ago.
Consolidated sales in the nine months totaled nearly $2.2 billion, up 11% from nearly 2 billion in the prior year period. RV sales during the period rose 11% to $1.87 billion compared with nearly $1.7 billion the previous year. Bus sales in the nine months were $326.2 million, up 9% from $298.5 million in the year-ago period.
Thor reported that cash, cash equivalents and investments on April 30, 2012 were $149 million while consolidated backlog was $684 million compared to $633 million last year. RV backlog was $448 million, up 5% from $427 million last year. Bus backlog was $236 million, up 15% from $206 million last year.
“Thor’s top line sales performance continues to be strong in both our RV and bus businesses, pulled by solid retail RV activity through the spring and an improving bus market,” said Peter B. Orthwein, Thor chairman, CEO and president. “However, our businesses were impacted by an elevated promotional environment driven by aggressive competition. This is resulting in the compression of our margins.”