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Monday, November 30, 2009
Thor's First-Quarter Net Income, Sales Jump
FOXBusiness
Recreational vehicle and bus maker Thor Industries (THO) said Monday its net income during the first quarter increased over the previous year.
Thor said an 18% increase in RV and towables sales, along with aggressive cost cutting, helped the company to a15% sales improvement.
The company reported net income of $23.4 million, or 42 cents per share, compared with $5.1 million, or 9 cents per share, during the year prior. Net sales were up to $502.6 million, an increase from $438.8 million in the prior year quarter.
A poll of analysts from Thomson Reuters predicted the company would earn 35 cents per share for the quarter.
Bus sales were also up by 4%, to $112.6 million from $108.4 million in the previous year.
Shares of Thor rose 0.7% to $28.45.
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