Elkhart-based Thor Industries Inc. (NYSE: THO) is reporting fiscal first quarter net income of $50.5 million, compared to $38.9 million during the same period the previous year. The recreational vehicle maker says its 12 percent revenue increase was fueled in part by recent acquisitions.
The company is reporting fiscal first quarter sales from continuing operations of $1.03 billion, compared to $922 million in the same quarter last year. Thor says revenue was boosted by combined 8 percent growth in sales of towable and motorized RVs.
In a release from Thor, Chief Executive Officer Bob Martin called the first quarter a record start to fiscal 2016, adding, "We are optimistic about our prospects for continued growth in fiscal 2016 as we build on the momentum of our September Dealer Open House at our largest industry trade show in Louisville this week."