Greg Gerber posted on December 01, 2008 17:24
JACKSON CENTER, Ohio -- Thor Industries, Inc. today reported sales, net income and earnings per share for the first quarter ended Oct. 31, 2008.
Net income was $5,120,000, down 87 percent from last year's $38,209,000. Earnings per share were 9 cents versus 69 cents last year. Sales for the quarter were $438.8 million, down 42.5 percent from $763.7 million.
RV income before tax in the quarter was $5,772,000, down 90 percent from $57,665,000 last year. Bus income before tax was $5,297,000, up 28 percent from $4,139,000 last year. RV sales in the quarter were $330.4 million, down 50 percent from $664.2 million last year. Bus sales in the quarter were $108.4 million, up 9 percent from $99.5 million last year. Net corporate costs were $2.8 million vs. $1.3 million last year.
"Cash, cash equivalents and investments increased to $299 million from $265 million last year. Our financial condition continues to be very strong. We have increased our market share in each of our business segments and we expect to continue our leadership in both of our industries," said Wade F. B. Thompson, Thor chairman.
SOURCE: Thor press release