Thor Industries reported record sales and order backlogs for the second quarter and first half of its fiscal year 2004, both of which ended on Jan. 31.
The company’s total sales increased 29% during the November-through-January period to $426 million, and amount that included $51 million in sales from Damon Motor Coach, which Thor acquired on Sept. 2.
Without Damon, Thor’s sales would have been up 14% to $375 million, compared with $330 million a year earlier.
Thor’s RV sales alone increased 35% in the period to $374 million, compared with $276 million a year earlier. Without Damon, Thor’s RV sales increased 17% to $323 million.
The New York Stock Exchange-listed company’s midsize transit bus sales declined 3% in the period to $52 million.
For the six months ended Jan. 31, Thor’s total sales increased 24% to $916 million, an amount that includes Damon’s contribution of $89 million since it was acquired on Sept. 2.
Thor’s RV sales in the period increased 28% to $806 million. Without Damon, Thor’s RV sales increased 14% to $717 million, compared with $628 million a year earlier.
Thor’s bus sales during the six-month period increased 2% to $110 million.
The company’s total order backlog amounted to a record $499 million as of Jan. 31, up 83% versus Jan. 31, 2003. Its RV order backlog amounted to $405 million, up 125% from a year earlier. Without Damon’s order backlog of $49 million, Thor’s RV order backlog of $356 million still was up 98% when compared with its backlog of $180 million on Jan. 31, 2003.
“This record backlog together with high consumer confidence levels and low interest rates bodes extremely well for the remainder of this year,” Thor Chairman Wade F.B. Thompson said.
Thor will report its second-fiscal-quarter and first-half earnings in about four weeks, Thompson said.