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Thor Industries Q2 sales up 34%

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Staff writer ▼ | March 7, 2015
Thor Industries announced improved sales and net income from continuing operations for the second quarter ended January 31, 2015, compared with the weaker results reported a year ago, which were adversely affected by the harsh winter conditions in early 2014.
Thor Industries
Thor Industries   Sales for the second quarter of fiscal 2015 were $852.4 million
Sales from continuing operations for the second quarter of fiscal 2015 were $852.4 million, up 34% from $635.3 million in the second quarter last year, as sales of both towable and motorized RVs posted gains from a year ago, with the 2015 towable results including the impact of the acquisitions of K-Z, Cruiser RV and DRV Luxury Suites.

Net income from continuing operations for the second quarter was $30.3 million, up 76% from $17.2 million in the prior-year second quarter. Including the discontinued operations of Thor's Bus business, net income for the second quarter was $28.6 million, up 77% from $16.2 million in the second quarter of fiscal year 2014.

Diluted earnings per share (EPS) from continuing operations for the second quarter was $0.57, up 78% from $0.32 in the second quarter last year. Including the discontinued operations of Thor's Bus business, diluted EPS for the second quarter was $0.54, up 80% from $0.30 in the second quarter of fiscal 2014.

Gross profit margins increased to 12.0% in the second quarter compared to 11.1% in the prior-year period. Gross margins in the second quarter of fiscal 2015 improved largely as a result of better fixed cost absorption associated with the higher level of net sales.

Sales from continuing operations for the six months ended January 31, 2015 were $1.77 billion, up 24% from $1.44 billion in the prior year.

Net income from continuing operations for the six months ended January 31, 2015 was $69.5 million, up 30% compared to $53.6 million in the first six months of fiscal 2014. Including discontinued operations, net income for the six months was $67.6 million, up 18% from $57.3 million in the first six months of the prior year.

Diluted EPS from continuing operations for the six months ended January 31, 2015 was $1.30, up 29% from $1.01 in the first six months of the prior year. Including discontinued operations, diluted EPS for the six months was $1.26, up 18% from $1.07 in the first six months of fiscal 2014, which included the gain on the sale of the bus business.


 

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