Thor Announces Quarterly Results
17 November 2000
Thor Announces Quarterly Results
JACKSON CENTER, Ohio, Nov. 16 Thor Industries, Inc.
reported today sales and net income for the quarter ended October
31, 2000.
Sales for the quarter ended October 31, 2000 were $205.2 million compared
with $221.0 million last year. Net income was $8,391,000 versus $9,660,000
last year. E.P.S. were 70c versus 80c last year.
RV sales in the quarter were $135.9 million versus $162.7 million last
year. Bus sales were $69.2 million, up 19% from $58.3 million last year.
"These results reflect the current softness in the recreation vehicle
industry," said Wade F. B. Thompson Thor Chairman. "Our bus business
continues very strong with record sales, earnings, order input, and backlogs,"
Mr. Thompson added.
THOR INDUSTRIES, INC.,
STATEMENT OF INCOME FOR THE 3 MONTHS ENDED OCTOBER 31, 2000 & 1999
$000 except per share - unaudited
MONTHS ENDED OCTOBER 31
2000 % 1999 %
Net sales $205,183 -- $221,021 --
Gross profit $26,396 12.9% $29,570 13.4%
Sales, general and
administrative $13,449 6.6% $13,420 6.1%
Amortization of
intangibles $519 .3% $447 .2%
Operating income $12,428 6.1% $15,703 7.1%
Interest income (net) $1,319 .6% $778 .4%
Other $441 .2% $228 .1%
Loss on divestment
of subsidiary $-- -- $(222) (.1%)
Income before taxes $14,188 6.9% $16,487 7.5%
Taxes $5,797 2.8% $6,827 3.1%
Net income $8,391 4.1% $9,660 4.4%
E.P.S. 70c 80c
Average common shares
outstanding 11,986,297 12,148,235
SUMMARY BALANCE SHEETS - October 31 ($000) (unaudited)
2000 1999
Cash and equivalents $60,298 $54,061
Accounts receivable 58,866 59,018
Inventories 92,878 79,629
Prepaid, etc. 10,427 11,186
Current assets 222,469 203,894
Fixed assets 36,154 24,221
Other assets 23,894 22,921
Total $282,517 $251,036
2000 1999
Current liabilities $78,180 $74,677
Other liabilities 957 1,553
Stockholders equity 203,380 174,806
Total $282,517 $251,036