Thor Industries (THO) Sees Q2 Sales Ahead of Views

February 4, 2013 4:23 PM EST Send to a Friend
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Thor Industries, Inc. (NYSE: THO) announced preliminary sales, backlog and cash, cash equivalents and investments for the second quarter and six months ended January 31, 2013.

Preliminary consolidated sales in the second quarter were $741.4 million, up 24.2% from $597.0 million in the second quarter last year. RV sales were $636.1 million, up 27.0% from $501.0 million in last year's second quarter. Towable RV sales for the second quarter were $522.4 million, up 17.6% from $444.2 million in the second quarter of fiscal 2012. Motorized RV sales in the second quarter more than doubled to $113.7 million from $56.8 million in the same quarter a year ago. Bus sales were $105.3 million, up 9.7% from $96.0 million in the second quarter last year.

*** The Street sees Q2 sales of $715.7 million.

For the six months ended January 31, 2013, preliminary consolidated sales were $1.62 billion, up 27.6% from $1.27 billion last year. RV sales were $1.40 billion, up 32.1% from $1.06 billion last year. Towable RV sales for the six months were $1.16 billion, up 23.0% from $943.3 million last year. Motorized RV sales rose to $235.9 million from $119.3 million last year. Bus sales were $219.5 million, up 5.9% from $207.3 million last year.

Cash, cash equivalents and investments on January 31, 2013 were $107.2 million. The decrease in cash balances was due in large part to the payment of the $1.50 per share special dividend declared by the Board and paid in December 2012.

Consolidated backlog on January 31, 2013 was $822.0 million, up 27.1% from $646.9 million last year. RV backlog was $616.6 million, up 49.4% from $412.8 million at the end of the second quarter of fiscal 2012. Towable RV backlog increased 25.2% to $375.4 million from $299.9 million at the end of the second quarter of fiscal 2012. Motorized RV backlog more than doubled to $241.2 million from $112.9 million at the end of the second quarter of fiscal 2012. Bus backlog was $205.4 million, compared to $234.1 million at the end of the second quarter of fiscal 2012.


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