Thor Announces Preliminary Sales for Quarter, Six Months; Record Backlog; Cash and Investments at $155 Million
04 February 2010 - 3:46AM
PR Newswire (US)
JACKSON CENTER, Ohio, Feb. 3 /PRNewswire-FirstCall/ -- Thor
Industries (NYSE:THO) announced today preliminary sales for the
quarter and six months ended January 31, 2010. Sales in the quarter
were $429 million, almost double the $227 million from last year.
RV sales were $335 million, up 148% from $135 million last year.
Bus sales were $94 million, up 2% versus $92 million last year.
Sales in the 6 months were $932 million, up 40% from $665 million
last year. RV sales were $726 million, up 56% from $465 million
last year. Bus sales were $206 million, up 3% from $200 million
last year. Backlog on January 31, 2010 was a record $711 million,
up 81% from $392 million last year. RV backlog was $449 million, up
157% from $175 million last year. Bus backlog was $262 million, up
21% from $217 million last year. Cash, cash equivalents and
investments on January 31, 2010 were $155 million. "Thor's record
backlog is indicative of improving RV market conditions and
continuing strength in bus," said Peter B. Orthwein, Thor Chairman,
President & CEO. "RV retail shows have been much improved so
far this season which leads us to anticipate continued performance
gains throughout 2010," he added. This release includes certain
statements that are "forward looking" statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These forward looking statements involve uncertainties and risks.
There can be no assurance that actual results will not differ from
our expectations. Factors which could cause materially different
results include, among others, additional issues that may arise in
connection with the findings of the completed investigation by the
Audit Committee of the Board of Directors of Thor Industries, Inc.
(the "Company") and the SEC's requests for additional information,
fuel prices, fuel availability, lower consumer confidence, interest
rate increases, tight lending practices, increased material costs,
the success of new product introductions, the pace of acquisitions,
cost structure improvements, the impact of auction market failures
on our liquidity, competition and general economic conditions and
the other risks and uncertainties discussed more fully in Item 1A
of the Company's Annual Report on Form 10-K for the year ended July
31, 2009. The Company disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward looking
statements contained in this release or to reflect any change in
the Company's expectations after the date of this release or any
change in events, conditions or circumstances on which any
statement is based except as required by law. DATASOURCE: Thor
Industries, Inc. CONTACT: Peter B. Orthwein or Richard Riegel,
+1-937-596-6849, or Fax +1-937-596-6539 Web Site:
http://www.thorindustries.com/
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