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JACKSON CENTER, Ohio, Nov. 30 /PRNewswire-FirstCall/ -- Thor Industries, Inc. (NYSE: THO) today reported increased sales, net income and E.P.S. for the first quarter ended October 31, 2009. Net income was $23,429,000, more than quadruple last year's $5,120,000. E.P.S. were 42 cents versus 9 cents last year. Sales for the quarter were $502.6 million, up 15% from $438.8 million.

RV income before tax in the quarter was $31,642,000, up more than five-fold from $5,772,000 last year. Bus income before tax was $8,380,000, up 58% from $5,297,000 last year. RV sales in the quarter were $389.9 million, up 18% from $330.4 million last year. Bus sales in the quarter were $112.6 million, up 4% from $108.4 million last year. Net corporate costs were $2.8 million, the same as the prior year.

"Thor's financial condition remains excellent. Cash, cash equivalents and investments were $329 million, even after distributing a special dividend of 50 cents per share or $27.7 million to Thor shareholders in the quarter. Results are much improved, driven by aggressive cost cutting, strong towable and modest motorized RV sales increases, and greater efficiencies in Bus. We were profitable in all business segments in the quarter, including motor homes, and our backlog remains at record levels for this time of year," said Peter B. Orthwein, Thor chairman, CEO, & president.

Thor is the world's largest manufacturer of recreation vehicles and a major builder of commercial buses.

This release includes certain statements that are "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements involve uncertainties and risks. There can be no assurance that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, additional issues that may arise in connection with the findings of the completed investigation by the Audit Committee of the Board of Directors of Thor Industries, Inc. (the "Company") and the SEC's requests for additional information, fuel prices, fuel availability, lower consumer confidence, interest rate increases, tight lending practices, increased material costs, the success of new product introductions, the pace of acquisitions, cost structure improvements, the impact of auction market failures on our liquidity, competition and general economic conditions and the other risks and uncertainties discussed more fully in Item 1A of the Company's Annual Report on Form 10-K for the year ended July 31, 2009. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in the Company's expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based except as required by law.

                             THOR INDUSTRIES, INC.
  STATEMENT OF INCOME FOR THE 3 MONTHS ENDED OCTOBER 31, 2009 and 2008
                       $000 except per share - unaudited

                             3 MONTHS ENDED OCTOBER 31,
                                  2009           2008
                                  ----           ----

Net sales                     $502,552       $438,817
---------
Gross profit                   $69,771        $40,063
Selling, general and
 administrative                $34,858        $34,466
Operating income               $34,913         $5,597
Interest income (net)           $1,571         $1,887
Other income                      $769           $766
                                  ----           ----

Income before taxes            $37,253         $8,250
-------------------

Taxes                          $13,824         $3,130
                               -------         ------
Net income                     $23,429         $5,120
----------                     =======         ======
  E.P.S. -  basic             42 cents        9 cents
  E.P.S. -  diluted           42 cents        9 cents
  -----------------

Avg. common shares
 outstanding-basic          55,436,924     55,408,576
Avg. common shares
 outstanding-diluted        55,516,772     55,472,773

              SUMMARY BALANCE SHEETS - OCTOBER 31, ($000) (unaudited)

                     2009       2008                       2009       2008
                     ----       ----                       ----       ----

Cash and                                Current
 equivalents     $223,202   $177,731     liabilities   $219,599   $211,688
Investments,                            Other
 short term        92,200          -     liabilities     62,561     50,074
Accounts                                Stockholders'
 receivable       134,706    118,633     equity         696,960    699,201
Inventories       134,029    166,563
Deferred income
 tax and other     48,897     39,504
                   ------     ------
Total current
 assets           633,034    502,431
Fixed assets      139,949    150,312
Long term
 investments       13,334    121,392
Goodwill          148,411    158,128
Other assets       44,392     28,700
                   ------
                 $979,120   $960,963                    $979,120  $960,963
                 --------   --------                    --------  --------

SOURCE Thor Industries, Inc.