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Thor Industries Inc., Jackson Center, Ohio, posted record fourth quarter and year-end net income and sales with revenues exceeding $2.5 billion for the fiscal year ended July 31.
Net income for the 12 months reported by the recreational vehicle and mid-size bus builder was nearly $121.8 million, up 15% from $106 million last year. Sales for the fiscal year were $2.56 billion, reflecting a 17% increase from $2.2 billion a year ago.
Net income for the quarter increased 3% to $33.1 million from $32 million the previous year. Revenues in the three-month period were $659.9 million, up 6% from $625.1 million last year.
For the three months, RV sales increased 2% to $584.3 million compared with $571.65 million in the previous year while RV revenues in the 12 months rose 17% to $2.3 billion.
Thor Chairman Wade F. B. Thompson noted: “This record performance far surpasses any other company in our businesses. The RV industry, compared to last year’s 25-year shipment record, has been soft for the past several months especially in motorhomes, which are down 13% this calendar year. Industry shipments of towables, Thor’s principal product segment accounting for about 68% of our revenues, are up 2% through August 2005.”
Thor reported that RV units sales were up 14% to 74,951 vehicles through the first nine months of 2005 while RV sales increased 16% to $457 million in August and September, signaling a strong start for fiscal 2006.
The company noted that September numbers were boosted by heightened travel trailer demand from the Federal Emergency Management Agency (FEMA) for victims of Hurricane Katrina.