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Thor Announces Preliminary Sales For Fourth Quarter And Full Year; Continued Backlog Growth

ELKHART, Ind., Aug. 4, 2014 /PRNewswire/ -- Thor Industries, Inc. (NYSE: THO) today announced preliminary sales from continuing operations, as well as continued strong year-over-year growth in the Company's backlog, for the fourth quarter and full year ended July 31, 2014. 

Preliminary consolidated sales from continuing operations in the fourth quarter were $1.04 billion, up 14% from $914.0 million in the fourth quarter last year.  Towable RV sales for the fourth quarter were $825.5 million, up 11% from $745.8 million in the fourth quarter of fiscal 2013.  Motorized RV sales in the fourth quarter increased 29% to $217.5 million from $168.2 million in the same quarter a year ago. 

For the full year ended July 31, 2014, preliminary consolidated sales from continuing operations were $3.53 billion, up 9% from $3.24 billion last year.  Towable RV sales for the year were $2.72 billion, which was up 3% compared to $2.65 billion last year.  Motorized RV sales rose 36% to $803.5 million from $591.5 million last year. 

Consolidated backlog on July 31, 2014 was $538.1 million, up 22% from $441.5 million at July 31, 2013.  Towable RV backlog increased 30% to $296.9 million, compared to $228.4 million at the end of fiscal 2013.  Motorized RV backlog increased 13% to $241.2 million from $213.1 million a year earlier. 

Thor's preliminary sales results and backlog for the fourth quarter of fiscal 2014 included a full quarter impact of the acquisition of K-Z, which was completed on May 1, 2014.  Thor's fourth-quarter results will include the required purchase price accounting for the K-Z transaction.

"We are pleased with the progress we've made in the fourth quarter and fiscal year as we've continued to execute our operational plans, consolidated facilities and began to integrate our acquisition of K-Z, resulting in another strong quarter of sales for Thor," said Bob Martin, Thor President and CEO.  "With the actions we have taken in the past year, we have incurred some short term financial costs, but the result is a strong base on which to build our long-term success.  As we begin fiscal 2015, we are excited to showcase our new model year products at our upcoming Dealer Open House to be held in Elkhart next month, which we expect will provide a positive start to the fiscal year," he added.

Thor expects to report its fourth-quarter operating results on September 25, 2014.

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