Thor Reports Fiscal Q2 Growth

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Thor relocated its headquarters to Elkhart County in 2013. Thor relocated its headquarters to Elkhart County in 2013.

Elkhart-based Thor Industries Inc. (NYSE: THO) is reporting record fiscal second quarter net income of $44.7 million, up from $28.6 million during the same period the previous year. Chief Executive Officer Bob Martin says the results reflect the success of the company's operating strategy.

The company is also reporting net income of $95.2 million for the first half of fiscal year 2016, up from $67.6 million during the same period the previous fiscal year.

"We drove improvements in cost management and operational efficiencies which, along with favorable product mix and lower material costs, allowed us to achieve significant growth in margins and overall profits," said Martin. "Recent acquisitions and capital investments continued to be accretive and contributed to Thor's record second-quarter and first-half results." 

Thor Executive Chairman Peter Orthwein said the company posted the strongest first half of any fiscal year in its history. He said the success was driven by the "outstanding performance" by its employees, management and dealers.

"The retail market remains positive as evidenced by strong attendance and sales at the early spring retail shows and Thor's dealers continue to be optimistic about future sales," added Martin. "Our dealers' success and favorable outlook suggests the continuation of industry growth in most segments, and we are ramping up production at the new western facility that is on track to begin producing and shipping units by the end of the fiscal third quarter."

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