Thor Announces Results For Quarter 2009

JACKSON CENTER, Ohio, March 9, 2009: Thor Industries, Inc. announced results for the second quarter and six months ended January 31, 2009.

Sales for the quarter were $226,683,000 versus $599,170,000 last year. Net loss for the quarter was $14,860,000 compared to net income of $21,602,000 last year. E.P.S. for the quarter were (27 cents) versus 39 cents last year.

Sales for the six months were $665,500,000 versus $1,362,906,000 last year. Net loss for the six months was $9,740,000 versus net income of $59,811,000 last year. E.P.S. for the six months were (18 cents) versus $1.07 last year

RV sales in the quarter were $134,573,000 versus $505,266,000 last year. Bus sales in the quarter were $92,110,000 compared to $93,904,000 last year. RV sales in the six months were $464,975,000 versus $1,169,477,000 last year. Bus sales in the six months were a record $200,525,000 up 4% from $193,429,000 last year. RV loss before tax was $19,840,000 in the quarter versus income before tax of $34,053,000 for the same period last year and RV loss before tax was $14,068,000 in the first six months of fiscal 2009 versus income before tax of $91,718,000 for the same period last year. Bus income before tax in the quarter was $3,723,000 versus $3,556,000 last year and $9,020,000 in the six months, up 17% from $7,695,000 last year. Corporate net costs were $6,834,000 in the quarter versus $2,403,000 last year and $9,653,000 in the six months versus $3,727,000 last year. Included in costs were non-cash charges of $564,000 for impairment of trademarks and $1,853,000 net loss on impairment of auction rate securities.

Cash, cash equivalents and investments on January 31, 2009 were $310.1 million, up from $234.3 million last year and the company continues to have zero debt.

"This is our first loss in over 17 years, reflecting the recession, record low consumer confidence, and severe credit restrictions. Fortunately, we have the financial resources to continue to set ourselves apart from our competitors. We were the only manufacturer in 2008 to increase our market share in all four major RV categories, travel trailers, fifth wheels, Class As, and Class Cs. The Bus industry is expected to benefit from the American Recovery and Reinvestment Act (the federal stimulus package) which includes $8.4 billion for mass transportation," said Wade F. B. Thompson, Thor chairman.