Thor Reports First Quarter 2009 Results

JACKSON CENTER, Ohio, December 1, 2008: Thor Industries, Inc. today reported sales, net income and E.P.S. for the first quarter ended October 31, 2008. Net income was $5,120,000, down 87% from last year's $38,209,000. E.P.S. were 9 cents versus 69 cents last year. Sales for the quarter were $438.8 million, down 42.5% from $763.7 million.

RV income before tax in the quarter was $5,772,000, down 90% from $57,665,000 last year. Bus income before tax was $5,297,000, up 28% from $4,139,000 last year. RV sales in the quarter were $330.4 million, down 50% from $664.2 million last year. Bus sales in the quarter were $108.4 million, up 9% from $99.5 million last year. Net corporate costs were $2.8 million vs. $1.3 million last year.

"Cash, cash equivalents and investments increased to $299 million from $265 million last year. Our financial condition continues to be very strong. We have increased our market share in each of our business segments and we expect to continue our leadership in both of our industries," said Wade F. B. Thompson, Thor Chairman.