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Thor Industries Inc. reports its sales and earnings basically doubled during the three months ended Jan. 31, largely due to its acquisition of Keystone RV Co. on Nov. 9.
The company’s earnings increased 143% during the November-through-January period, the second quarter of its fiscal year 2002, to $7.7 million, compared with $3.2 million earned during the same period a year earlier.
Thor’s RV sales during its second fiscal quarter increased 97% to $202.7 million.
During the six months ended Jan. 31, Thor earned $14.4 million, a 24% increase from the same period a year earlier.
The Jackson Center, Ohio-based company’s RV sales increased 37% during the six months ended Jan. 31 to $330.8 million.
Thor had a $31 million cash balance as of Jan. 31 and no debt, said Wade F.B. Thompson, chairman.
Due to the Keystone acquisition, Thor was the largest manufacturer of towable RVs by a wide margin, said Thompson, citing Statistical Surveys Inc. data.
During the first 11 months of 2001, Thor had a leading 25.8% retail market share in the combined travel trailer/fifth-wheel category, according to Statistical Surveys. Thor was well ahead of No. 2 Fleetwood at 15.1% and Forest River at 13.2%.
In travel trailers, Thor was the leader during the first 11 months of last year at 24.4%, followed by Fleetwood at 17.1% and Forest River at 12.8%.
In fifth-wheels, Thor was the leader during the first 11 months of 2001 with a 28.6% retail market share, followed by Forest River at 14% and Fleetwood at 11.4%, according to Statistical Surveys.