Thor Industries Inc. reported a 62% drop in sales for its fiscal second quarter, ended Jan 31.
In its preliminary report, the Jackson Center, Ohio-based firm said revenue for the quarter totaled $227 million, down from $599 million the previous year. RV sales were $135 million compared with $505 million the year prior and bus sales were $92 million versus $94 million.
Sales for the six months were $665 million, down from $1.36 billion a year ago. RV sales fell to $465 million from $1.17 billion while bus sales were a record $200 million, up 4% from $193 million last year.
Cash, cash equivalents and investments on January 31 were $306 million versus $234 million last year and the backlog was $392 million, down from $568 million last year.
RV backlog dropped to $175 million from $318 million in the year-ago period.