Thor Industries RV, Bus Sales Fall In 2Q

JACKSON CENTER, Ohio (AP) -- Thor Industries Inc., a manufacturer of recreational vehicles and commercial buses, said Tuesday that its fiscal second-quarter sales fell 22.8 percent on lower demand.

Sales were $440 million for the quarter ended July 31, down from $570 million for the same quarter in 2008. RV sales fell the most -- 25.9 percent -- to $337 million from $455 million. Commercial bus sales dropped 10.4 percent in the quarter to $103 million from $115 million in the year earlier quarter.

For the previous 12 months Thor's sales fell 42.4 percent to $1.52 billion from $2.64 billion.

Backlog, or undelivered orders, reached its highest levels since July 2007 at $588 million as of July 31. That compares to $406 million at the same point a year ago. RV backlog was $298 million, more than double than last year's backlog of $146 million.

Thor Chairman Wade Thompson said the backlogs "indicate the start of a more positive fiscal 2010."

Shares of Thor rose $1.08, or 4.5 percent, Tuesday afternoon to $25.35.

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