Thor Industries, the nation’s largest RV manufacturer, finished its fiscal year with a profit, maintaining a record of never posting a loss since it was founded 29 years ago. Cost cutting helped the company achieve a net income of $17.1 million, even though RV sales fell from $2.2 billion to $1.1 billion. The company, which also builds buses, noted that both its RV and bus businesses were hurt by the poor economy.
Wade F. B. Thompson, company chairman, said, “The RV business is improving after having been in a depression for over a year, with industry shipments down over 50 percent.” One hopeful sign, he noted, is that sales of trailers and fifth wheels increased 14 percent industrywide in August, “although motorized sales continue to be very soft.”
The company reported its financial results for the fiscal year ending July 31.