Thor Industries Reports Year-End/Quarter Results
Thor Industries Inc. (Jackson Center, OH) announced sales and net income for the quarter and year ended July 31, 2001. Net income in the quarter was $8.4 million versus $9.7 million in the prior year. EPS in the quarter were $0.71 versus $0.80 last year. Net income for the year was $26.7 million compared to $36.1 million last year. EPS for the year were $2.24 versus $2.98 last year.
Sales for the year were $826.9 million versus $916.0 million last year. Sales in the quarter were $222.9 million versus $241.6 million last year. Bus sales for the year were a record $292.0 million, up 23 percent from $237.7 million last year, and were $77.0 million in the quarter, up 20 percent from $64.3 million last year.
"These results are in excess of analysts' estimates. We completed the year with $107.2 million in cash and short-term investments ($9 per share), which exceeds our total liabilities and we have no debt. This places us in a strong position to take advantage of future strategic opportunities," said Wade Thompson, chairman. "We are also on schedule with the development of our zero-emission, fuel cell hybrid bus, which will be in operation within 60 days."
Thor's regular quarterly dividend of $0.02 per share will be payable on October 11, 2001, to stockholders of record on October 1, 2001.