Thor Industries Inc. said that sales for its fiscal first quarter ended Oct. 31 declined 42% with RV revenue falling 50%.
In its preliminary report, the Jackson Center, Ohio-based builder said sales for the quarter were $439.2 million, down from $763.7 million in the year-ago period. RV sales totaled $331.2 million compared with $664.2 million a year ago while bus sales increased to $108 million from $99.5 million.
Thor’s RV backlog on Oct. 31 was $124.5 million, down from $249.7 million the previous year.
The company reported that cash and investments on Oct. 31 were approximately $286 million versus $265 million the year prior. “Our strong balance sheet gives us a significant competitive advantage in these difficult times,” said Wade F. B. Thompson, Thor chairman.