|
Latest Thor Financial report
Thor announces huge drop in earnings
September 30, 2008
RV maker Thor Industries Inc. said late Monday its fourth-quarter earnings plummeted nearly 90 percent. In a regulatory filing, the company said earnings for the quarter ended July 31 slumped to $5 million, or nine cents per share, from $50.3 million, or 90 cents per share, in the same quarter last year.
Thor manufactures many of the most popular brands of RVs including Damon, Airstream (pictured below), Komfort, Dutchmen, Four Winds, Keystone and others.
Excluding the cost of a write-down of intangible assets, the earnings came to 23 cents per share, according to RBC Capital Markets analyst Edward Aaron. Net sales declined 25 percent to $569.8 million from $754.9 million.
Analysts polled by Thomson Reuters expected fourth-quarter earnings of 30 cents per share on $568.5 million in revenue.
For the full year, Thor said earnings fell to $92.7 million, or $1.66 per share, from $134.7 million, or $2.41 per share, in 2007. Sales slipped to $2.64 billion from $2.86 billion.
Shares of Thor closed Monday at $25.15. The stock is down 34 percent for the year to date.
Thor Industries, Inc., was founded on August 29, 1980, when Wade F. B. Thompson and Peter B. Orthwein acquired Airstream, the most recognized name in the industry. By 1982 Thor was strong enough to purchase the Canadian company General Coach, which manufactures travel trailers and fifth wheels in Canada. In 1991 it acquired Dutchmen Manufacturing and in the following years acquired other companies
|
Threaded Mode
