Thor Announces Record Sales for Quarter, Half
2 February 1999
Thor Announces Record Sales for Quarter, Half; Expects Quarter Operating Income to DoubleJACKSON CENTER, Ohio, Feb. 2 -- Thor Industries, Inc. announced today record preliminary sales for the quarter ended January 31, 1999 of $165.8 million, up 23% from $134.5 million last year. Sales for the 6 months were a record $355 million, up 18% from $300 million last year. Bus sales surged 65% in the quarter to $53.1 million from $32.2 million last year and jumped 44% in the 6 months to $104 million from $72 million last year. RV sales in the quarter increased 10% to $112.7 million, up from last year's $102.3 million and grew 10% in the 6 months, to $251 million, up from last year's $228 million. Wade F. B. Thompson, Thor Chairman, also announced that operating income in the quarter is expected to be about double last year and that backlog is a record $200 million, up 60% from last year. He also reported that the company's new state-of-the-art 137,000 sq. ft. Dutchmen travel trailer plant started production yesterday in Goshen, IN. Two formerly leased facilities have been consolidated into this facility, providing substantial operating efficiencies, improved quality and increased capacity. Final results for the quarter and 6 months will be reported by March 8, 1999. This release includes "forward-looking statements" that involve uncertainties and risks. There can be no assurance that actual results will not differ from the Company's expectations. Factors which could cause materially different results include, among others, the success of new product introductions, the pace of acquisitions and cost structure improvements, competitive and general economic conditions, and the other risks set forth in the Company's filings with the Securities and Exchange Commission.