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Thor Industries' Sales Slide 43 Percent

Maker of recreational vehicles and buses said Tuesday its fiscal first-quarter sales tumbled 43 percent from last year as demand for recreational vehicles plunged.

JACKSON CENTER, Ohio (AP) -- Thor Industries Inc., which makes recreational vehicles and buses, said Tuesday its fiscal first-quarter sales tumbled on a steep drop in demand for recreational vehicles.

For the quarter ended Oct. 31, Thor said its sales totaled $439.2 million, down 43 percent from $763.7 million last year.

Analysts polled by Thomson Reuters expected higher sales of $484.7 million.

RV sales plummeted 50 percent to $331.2 million, while bus sales rose 9 percent to $108 million.

Backlog as of Oct. 31 totaled $381.2 million, down 20 percent from $476.1 million last year. RV backlog fell 50 percent to $124.5 million, while bus backlog rose 13 percent to $256.6 million.

Thor shares added 37 cents, or 2.1 percent, to $18.03 in afternoon trading.

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