Goshen News, Goshen, IN

Business

March 6, 2014

RV maker Thor hit hard by tough winter

ELKHART — Thor Industries' second quarter income was hit pretty hard by the impact of severe weather, being a factor in driving the company's earnings down 9 percent.

Thor released its earnings report for the second quarter and six months Thursday afternoon.

Below is Thor's earnings report as released.

Thor Industries, Inc. (NYSE:THO) today announced financial results for the second quarter and six months ended January 31, 2014.  Highlights of the Company's financial results follow:

• Sales from continuing operations for the second quarter of fiscal 2014 were $635.3 million, down slightly from $636.6 million in the second quarter last year, due in large part to severe winter weather which adversely affected operations during the quarter. 

• Gross profit margins improved to 11.1% in the second quarter compared to 10.6% in the prior year period.

• Net income from continuing operations for the second quarter was $17.2 million, down 9% from $19.0 million in the prior-year second quarter.  Including the discontinued operations of Thor's Bus business, net income for the second quarter was $16.2 million, down 19% from $19.9 million in the second quarter of fiscal 2013. 

• Diluted earnings per share (EPS) from continuing operations for the second quarter was $0.32, down 11% from $0.36 in the second quarter last year.  Including the discontinued operations of Thor's Bus business, diluted EPS for the second quarter was $0.30, down 19% from $0.37 in the second quarter of fiscal 2013.

• Sales from continuing operations for the six months ended January 31, 2014 were $1.44 billion, up 3% from $1.40 billion in the prior year. 

• Net income from continuing operations for the six months ended January 31, 2014 was $53.6 million, up 12% compared to $47.8 million in the first six months of fiscal 2013.  Including discontinued operations, net income for the six months was $57.3 million, up 13% from $50.9 million in the first six months of the prior year.

• Diluted EPS from continuing operations for the six months ended January 31, 2014 was $1.01, up 12% from $0.90 in the first six months of the prior year. Including discontinued operations, diluted EPS for the six months was $1.07, up 11% from $0.96 in the first six months of fiscal 2013.

"Despite the impact of the severe winter weather on our results in the quarter, we remain optimistic about our markets, our long-term strategic goals and our expectations for a year of continued growth in fiscal 2014," said Bob Martin, Thor President and CEO. "As we work through our backlog in both towables and motorized we expect to make up for the second quarter weather delays throughout the remainder of our fiscal year. We are making considerable progress in establishing an appropriate footprint to meet the growing demand for our products, including the recently announced addition of another prime production facility to support our motorized growth.  Given the success of early retail shows and the strength of our dealer base, our expanded production infrastructure will be helpful as we work to meet peak seasonal demand over the next two quarters," he added.

Text Only
Business
  • Fast Food Workers Convention-3 [Duplicate] Fast food workers push wage hike CHICAGO — Fast food workers say they’re prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers are expected to discuss the future of the ef

    July 25, 2014 1 Photo

  • Supreme Industries reports improved quarter GOSHEN — Supreme Industries Inc. reported Thursday its second quarter sales and income were up. The company, which makes specialized commercial vehicles, reported its consolidated net sales from continuing operations grew to $71.6 million in the seco

    July 24, 2014

  • Earns General Motors [Duplicate] Recalls cost GM $1.5 billion DETROIT — Recall costs chopped $1.5 billion from General Motors' bottom line in the second quarter, cutting its net income by 85 percent. The automaker, which is in the midst of the worst recall crisis in its history, posted a net profit of $190 mil

    July 24, 2014 1 Photo

  • Amazon Kindle Service [Duplicate] Amazon unlimited e-book service is limited NEW YORK — Amazon’s new “unlimited” e-book service lets you read 600,000 books. That sounds like more than you’ll ever read, but I found myself struggling to find the books I wanted. It turns out that the library of 600,000 is bit like a small bookst

    July 21, 2014 1 Photo

  • BIZ GN140720 blue barn berry farm image 01 New berry farm also offers classes, treats SYRACUSE — A retirement hobby has grown into a new agriculture-based business for a local family.Don and Peggy Bucher and Shanda and Chris Sheeren are members of a farm family who operate Bucher Farms along N. 300 East. According to Shanda, her mothe

    July 20, 2014 2 Photos

  • BIZ GN140720 mike gingerich column image Online marketing methods to grow sales Growing sales through selling online is a powerful way to reach more people and extend your market.To sell online means getting in front of the right people in the right places. You want much more of a laser focus than a scattershot approach. It also

    July 20, 2014 1 Photo

  • Local job numbers up, but so is jobless rate A growing number of people looking for work in Elkhart County has boosted the unemployment rate despite an increase in the number of jobs.According to the Indiana Department of Workforce Development, Elkhart County’s jobless rate was 5.6 percent in J

    July 19, 2014

  • Microsoft-Goodbye Android-3 [Duplicate] Axed Nokia X phones suffered from lack of identity NEW YORK — The Nokia X phones that Microsoft discontinued this week blend two rival operating systems, but leave out the best of each.As a result, the devices didn’t become a runaway hit as Nokia’s low-cost answer to serving emerging markets.Nokia X

    July 18, 2014 2 Photos

  • Obama opens Eastern Seaboard to oil search ST. AUGUSTINE BEACH, Fla. — Opening the Eastern Seaboard to offshore oil exploration for the first time in decades, the Obama administration on Friday approved the use of sonic cannons to discover deposits under the ocean floor by shooting sound wave

    July 18, 2014

  • Planners limit use of Hawks building GOSHEN — The types of businesses that could potentially be located in the recently refurbished Hawks building in downtown Goshen could be limited if a ruling by the Goshen Plan Commission Tuesday holds up. During Tuesday’s meeting, commission members

    July 15, 2014

Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
AP Video
Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites
Poll

Last weekend (July 12) the Goshen Parks Department held its Kid’s Try-athlon to promote childhood fitness and this week (July 18) the new bicycle trail is open to the fairgrounds in Goshen, offering residents a healthy way to get to the annual agriculture exposition. Have you joined the local fitness movement?

Yes, I work at eating healthy and exercising
No, I am happy with my fitness level
Changing my diet and exercise frequency is a work in progress
     View Results