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Thor Industries Beats Estimates Despite Top Line Decline (THO)

Posted on: Tue, 29 Sep 2009 11:58:00 EDT

Symbols: THO

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Sep 29, 2009 (SmarTrend(R) News Watch via COMTEX) --
THO | Quote | Chart | News | PowerRating -- 9/29/2009-Shares of Thor Industries (NYSE:THO) rose 1% Tuesday after reporting Q4 EPS of $0.45, topping consensus estimates of $0.23. Revenues in the quarter fell 22.6% year-over-year to $440.9 million, but managed to com in slightly higher than consensus estimates of $440.2 million.

"We achieved profits in both RV and Bus in the quarter and year, a notable accomplishment. Further, we maintained our record of 'never a loss' in the 29 years since our founding, a performance that we believe is unique in our industries. The RV business is improving after having been in a depression for over a year, with industry shipments down over 50%. The Bus business was also affected by the recession. Recently, bus order input has benefited from the federal stimulus package. These orders will be reflected in F2010 results. In August, for the first time in 2 years, industry towable RV sales increased (up 14%) while motorized sales continue to be very soft," said Wade F. B. Thompson, Thor Chairman.

Write to Chip Brian at cbrian@tradethetrend.com

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