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Thor Industries Inc. reports its fourth fiscal quarter sales revenue was up 80% and its full fiscal year 2002 sales increased by 51%, primarily due to the acquisition of towable RV builder Keystone RV Co. last Nov. 9.
Thor’s total sales during its fourth fiscal quarter, which ended Wednesday (July 31), amounted to $402.2 million, compared with $222.9 million during the May-through-July portion of 2001.
The company’s RV sales revenue during the three months ended July 31 were up 137% to $345.7 million while its transit bus sales declined 27% to $56.5 million.
During its full fiscal year 2002, Thor’s sales revenue totaled $1.25 billion, compared with $826.9 million during its fiscal year 2001.
Thor’s RV sales were up 83% during the 12 months ended July 31 to $979.4 million while its transit bus revenues slipped 7% lower to $271.6 million.
Excluding Keystone, Thor’s RV sales would have been up 30% during the May-through-July period and up 10% for the 12 months ended July 31.
As of Wednesday, Thor’s order backlog was $351 million, which was 57% higher than its backlog of $223 million on July 31, 2001, which did not include Keystone’s backlog.
Thor will report its fourth fiscal quarter and full fiscal year 2002 earnings in about eight weeks.