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Thor Industries Inc. reported a 42% increase in its fiscal year-end net income on record sales topping $3 billion.
The Jackson Center, Ohio-based company posted net income for the 12 months, ended July 31, of $172.5 million compared to $121.8 million in fiscal 2005 while sales rose 20% to just over $3 billion from just under $2.6 billion.
For the fourth quarter, net income was a record $46 million, up 39% from $33 million last year. Sales for the three-month period totaled $805.3 million, also a record, representing a 22% gain from $659.9 million the previous year.
RV sales in the quarter increased 23% to $719.8 million from $584.3 million last year and were up 19% to $2.75 million for the fiscal 12 months.
“These exceptional results far surpass any other company in our businesses and reflect outstanding performance by all Thor employees, said Wade F. B. Thompson, Thor chairman. “In the six months ended January 31, 2006 of last fiscal year, we had one-time, extraordinary hurricane-related sales of approximately $114 million.
“…Given the current tight market conditions, we anticipate that comparisons with the first half of last year will be difficult. We expect that we will recover these one time revenues by the end of fiscal 2007.”
Thor’s total retail RV sales in the eight months ended August 2006 were 71,454 units, up 8% from 66,363 units last year, according to Thor’s internal daily tracking system. The company said towable retail sales were up 9% to 64,134 units from 58,618 units last year and motorhome retail sales were 5,798 units, down 6% from 6,167 units last year.
Thor said its RV retail unit sales were up 6% in May, 11% in June, 5% in July, and 8% in August according to our internal daily tracking system.