Thor earnings skyrocket
Dayton Business Journal
Thor Industries said Wednesday it recorded dramatic increases in profit for the third quarter and the first nine months of the fiscal year.
Net income for the quarter ended April 30 was $16.6 million, or $1.17 per share, in increase of 147 percent from $6.7 million, or 57 cents per share, during last year's third quarter.
Sales during the period increased 67 percent, to $369.8 million.
Wade Thompson, Thor chairman, said the company's market share in the sale of motor homes, travel trailers and fifth-wheel vehicles is 24 percent, according to the most recent findings by Statistical Surveys Inc.
The industry's No. 2 manufacturer has 15 percent penetration, Thompson said.
For the nine months, Thor grew profit by almost 70 percent -- from $18.3 million, or $1.54 per share, last year to $31 million, or $2.32 per share, this year.
Nine-month sales were $848.8 million, compared to $604 million during the first nine months of 2001.
Thor, headquartered in Jackson Center, said it will issue a regular cash dividend of 2 cents per share for the quarter, payable July 3 to shareholders as of June 14.
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