Thor Q4 Prelim Sales Up 14%

(RTTNews) - Thor Industries, Inc. (THO) said Monday that Thor Industries, Inc. (THO) preliminary consolidated sales from continuing operations in the fourth quarter rose 14% to $1.04 billion from $914.0 million in the fourth quarter last year.

Analysts polled by Thomson REuters expected the company to post revenue of $1.10 billion for the fourth quarter.

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 rose 9% to $3.53 billion from $3.24 billion last year. Analysts expected the company to post revenue of $3.58 billion for the fiscal year 2014.

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 a year earlier. 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. Thor's fourth-quarter results will include the required purchase price accounting for the K-Z deal.

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