Thor Industries Inc., parent of several RV manufacturing companies, including Dutchmen, Four Winds and Keystone, reported record sales revenue for its third fiscal quarter, which ended Wednesday (April 30).
The New York Stock Exchange-listed company reported total sales revenue of $411.9 million for the February-through-April period, a 12% increase over the $367.7 million in sales it generated a year earlier.
However, all of the increase came in Thor’s RV business, which posted a 19% increase, while its transit bus sales fell 20% during the three-month period that ended Wednesday.
Thor’s RV sales totaled $358.4 million for the three months ended Wednesday, compared with $300.7 million a year earlier. Its bus sales revenue totaled $53.5 million, compared with $67 million in the February-through-April portion of 2002.
Thor’s RV retail registrations also increased 9% in the February-through-April period, which included the runup to the war in Iraq and the war itself.
During the nine-month period that ended Wednesday, Thor’s total sales increased 36% to $1.15 billion, compared with $844.1 million a year earlier.
Its RV sales revenue in the nine-month period increased 58% to $986.5 million, compared with $629 million a year earlier. Thor’s $629 million in RV sales during the nine months ended April 30, 2002, does not include Keystone RV Co.’s sales revenue during the August-through-October portion of 2001, because Thor acquired Keystone early in November 2001.
Meanwhile, Thor’s bus sales revenue declined 25% in the nine-month period to $161.6 million, compared with $215.1 million a year earlier.
The sharp increase in consumer confidence between March and April, as measured by the Conference Board’s Consumer Confidence Index “bodes very well for the RV industry,” said Wade F.B. Thompson, Thor’s chairman. The increase between March and April was the second largest in the survey’s history, Thompson added.
Thor will issue its complete financial results in about four weeks, according to Thompson.