For Shelby County RV producer Thor Industries Inc., business is strong.

Thor reported net income of $40.6 million in its fiscal year fourth quarter, or 78 cents per share, well above the nearly $24.8 million, or 45 cents per share reported for the same quarter last fiscal year.

For the entire fiscal year, Thor reported net income of more than $110 million, or $2.08 per share, compared to only $17.1 million, or 31 cents per share, for all of fiscal 2009. Both the most recent quarter and year ended July 31.

Sales for the quarter were nearly $663.8 million, up 51 percent from $440.9 million last year, Thor said late Tuesday. Sales for the year were more than $2.2 billion, up 50 percent from just over $1.5 billion last year.

“I am particularly proud of our improved margins, which reflect Thor’s cost-cutting and process efficiency efforts and have resulted in our quarterly and annual earnings being well in excess of analyst consensus estimates,” Peter Orthwein, Thor chairman, said in the company’s statement.

Recently, Thor announced its acquisition of Indiana-based Heartland Recreational Vehicles for $100 million and 4.3 million shares, subject to changes in stock price.