8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 29, 2009

Thor Industries, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	1-9235	93-0768752
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

419 West Pike Street,
Jackson Center, Ohio (Address of Principal Executive Offices)	45334-0629 (Zip Code)

Registrant’s telephone number, including area code: (937) 596-6849

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

     On September 29, 2009, Thor Industries, Inc. (the “Company”) issued a press release announcing certain financial results for the quarter and twelve months ended July 31, 2009. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

     In accordance with general instruction B.2 to Form 8-K, the information set forth in Item 2.02 of this Form 8-K (including Exhibit 99.1) shall be deemed “furnished” and not “filed” with the Securities and Exchange Commission for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing thereunder or under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits

Exhibit Number	Description
99.1	Copy of press release, dated September 29, 2009, issued by the Company

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Thor Industries, Inc.
Date: September 30, 2009	By:	/s/ Christian G. Farman
		Name:	Christian G. Farman
		Title:	Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Copy of press release, dated September 29, 2009, issued by the Company

EX-99.1

Exhibit 99.1

419 WEST PIKE STREET • P.O. BOX 629 • JACKSON CENTER, OHIO 45334-0629
PHONE 937-596-6849 • FAX 937-596-6539
NEWS RELEASE

Date:	September 29, 2009
Contact:	Wade F. B. Thompson or Peter B. Orthwein

THOR REPORTS E.P.S IN QUARTER, YEAR SIGNIFICANTLY EXCEED ANALYSTS’ CONSENSUS;
BOTH RV AND BUS PROFITABLE IN QUARTER, YEAR.
THOR ONLY RV COMPANY TO INCREASE MARKET SHARE IN TOWABLES AND MOTOR HOMES.

Thor Industries, Inc. (NYSE:THO) announced results for the fourth quarter and 12 months ended July 31, 2009.

Net income for the quarter was $24,781,000 up from $5,041,000 last year. E.P.S. for the quarter were 45¢ up from 9¢ last year. Sales for the quarter were $440,924,000 versus $569,843,000 last year. Net income for the 12 months was $17,143,000 compared to $92,706,000 last year. E.P.S. for the 12 months were 31¢ versus $1.67 last year. Sales for the 12 months were $1,521,896,000 compared to $2,640,680,000 last year.

E.P.S. of 45¢ in the quarter is nearly double analysts’ consensus estimates of 23¢. E.P.S of 31¢ for the year compares with analysts’ consensus estimates of 11¢. Operating margins significantly improved in the quarter as a result primarily of cost cutting initiatives.

“We achieved profits in both RV and Bus in the quarter and year, a notable accomplishment. Further, we maintained our record of “never a loss” in the 29 years since our founding, a performance that we believe is unique in our industries. The RV business is improving after having been in a depression for over a year, with industry shipments down over 50%. The Bus business was also affected by the recession. Recently, bus order input has benefitted from the federal stimulus package. These orders will be reflected in F2010 results. In August, for the first time in 2 years, industry towable RV sales increased (up 14%) while motorized sales continue to be very soft,” said Wade F. B. Thompson, Thor chairman.

RV sales in the quarter were $337,990,000 versus $454,518,000 last year. Bus sales in the quarter were $102,934,000 versus $115,325,000 last year. RV sales in the 12 months were $1,115,006,000 compared to $2,224,955,000 last year. Bus sales in the 12 months were $406,890,000 versus $415,725,000 last year. RV income before tax was $24,827,000 in the quarter, almost triple $8,662,000 last year and $17,619,000 in the 12 months versus $145,784,000 last year. Bus income before tax in the quarter was $7,159,000 versus $8,324,000 last year and $17,422,000 in the 12 months versus $21,132,000 last year. “Thor is the only company to show an increase in market share in both towables and motorized recreation vehicles. For the 7 months ended July 31, 2009, Stat Surveys reported that Thor increased its towable share to 31.1%, up from 30.4% last year and increased its motorized share to 17.7% versus 15.1% last year. Thor’s market share of the mid-size bus market is also up, at approximately 40%, according to industry statistics,” Thompson said.

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 of 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 AND 12 MONTHS ENDED JULY 31, 2009 and 2008
$000 except per share — unaudited

	3 MONTHS ENDED JULY 31					12 MONTHS ENDED JULY 31
	2009			2008		2009		2008
Net sales	$	440,924		$	569,843	$	1,521,896	$	2,640,680
Gross profit	$	57,870		$	61,435	$	152,537	$	322,426
Selling, general and administrative	$	26,418		$	44,749	$	125,054	$	177,881
Operating income	$	31,452		$	16,686	$	27,483	$	144,545
Impairment of goodwill & trademarks	$	—		$	7,535	$	10,281	$	7,535
Interest income (net)	$	721		$	1,569	$	5,005	$	10,196
Gain on sale of property	$	—		$	—	$	373	$	2,308
Net appreciation of auction rate securities	$	(1,125	)	$	—	$	—	$	—
Other income	$	226		$	1,661	$	815	$	2,893
Income before taxes	$	33,524		$	12,381	$	23,395	$	152,407
Taxes	$	8,743		$	7,340	$	6,252	$	59,701
Net income	$	24,781		$	5,041	$	17,143	$	92,706
E.P.S. — basic		45¢			9¢		31¢	$	1.67
E.P.S. — diluted		45¢			9¢		31¢	$	1.66
Avg. common shares outstanding-basic		55,436,924			55,407,924		55,429,373		55,593,572
Avg. common shares outstanding-diluted		55,491,667			55,490,566		55,476,470		55,731,707

SUMMARY BALANCE SHEETS — JULY 31 ($000) (unaudited)

	2009		2008
Cash and equivalents	$	221,684	$	189,620
Investments, short term		107,150		—
Accounts receivable		115,616		146,355
Inventories		105,278		152,582
Deferred income tax and other		54,290		39,363
Total current assets		604,018		527,920
Fixed assets		142,861		153,230
Long term investments		13,428		126,403
Goodwill		148,411		158,128
Other assets		42,406		30,881
Total	$	951,124	$	996,562

	2009		2008
Current liabilities	$	184,474	$	248,416
Other liabilities		61,617		48,450
Stockholders’ equity		705,033		699,696
	$	951,124	$	996,562