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Updated: 10:40 a.m. Thursday, Sept. 29, 2011 | Posted: 10:39 a.m. Thursday, Sept. 29, 2011

Thor reports higher sales, lower earnings

Staff Report

Thor Industries Inc., a Shelby County manufacturer of recreational vehicles and buses, reported Thursday net income for its fiscal fourth quarter 2011 of nearly $36.9 million, or 66 cents per diluted share, down from net income of about $40.6 million, or 77 cents per diluted share, for the same quarter last fiscal year.

For the company’s whole fiscal year, Thor reported net income of nearly $106.3 million, or $1.92 per diluted share, down from just over $110 million, or $2.07 cents per diluted for share for Thor’s last fiscal year.

Sales were strong, Jackson Center-based Thor said. Sales for the quarter were put at $770.5 million, up 16 percent from nearly $663.8 million last year, the company said. Sales for the year were $2.755 billion, up 21 percent from the $2.276 billion reported last year.

“Thor delivered solid results in both the fourth quarter and its fiscal year amidst challenging market conditions in both the RV and bus businesses,” Peter Orthwein, Thor’s chairman, said in a statement.

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