Tuesday, February 06, 2007
EVEN THOR'S SALES HAVE SLUMPED
RV Business
Monday, February 5, 2007
Jackson Center Ohio-based Thor Industries Inc. reported a decline in revenues for its fiscal second quarter and six months, in part due to hurricane-related demand in the year prior that inflated shipments.
In a preliminary report, Thor said sales during the quarter, ended Jan. 31, totaled $587 million, down 9% from $642 million the previous year. RV sales declined 14% to $495 million from $572 million in the three-month period.
Thor noted that excluding estimated hurricane related sales of $38 million in the year prior, second-quarter RV revenues were down 7%.
For the six months, sales were $1.3 billion, down 6% from $1.4 billion a year ago. Thor reported a 10% drop in RV revenues to $1.13 billion, again noting that sales were down just 1% excluding hurricane sales.
The company’s RV backlog on Jan. 31 was $338 million, down 32% from $498 million the previous year.
The report was the first issued since Thor announced Jan. 31 that it is conducting an internal audit of its Dutchmen Manufacturing Inc. subsidiary. The company estimated the cumulative issues could reduce net income by about $16 million for the period between fiscal 2004 and the first five months of fiscal 2007.
Monday, February 5, 2007
Jackson Center Ohio-based Thor Industries Inc. reported a decline in revenues for its fiscal second quarter and six months, in part due to hurricane-related demand in the year prior that inflated shipments.
In a preliminary report, Thor said sales during the quarter, ended Jan. 31, totaled $587 million, down 9% from $642 million the previous year. RV sales declined 14% to $495 million from $572 million in the three-month period.
Thor noted that excluding estimated hurricane related sales of $38 million in the year prior, second-quarter RV revenues were down 7%.
For the six months, sales were $1.3 billion, down 6% from $1.4 billion a year ago. Thor reported a 10% drop in RV revenues to $1.13 billion, again noting that sales were down just 1% excluding hurricane sales.
The company’s RV backlog on Jan. 31 was $338 million, down 32% from $498 million the previous year.
The report was the first issued since Thor announced Jan. 31 that it is conducting an internal audit of its Dutchmen Manufacturing Inc. subsidiary. The company estimated the cumulative issues could reduce net income by about $16 million for the period between fiscal 2004 and the first five months of fiscal 2007.
