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): March 8, 2010

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 March 8, 2010, Thor Industries, Inc. (the “Company”) issued a press release announcing certain financial results for the second quarter and six months ended January 31, 2010. 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 March 8, 2010, 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: March 9, 2010	By:	/s/Christian G. Farman
		Name:	Christian G. Farman
		Title:	Senior Vice President, Treasurer and Chief Financial Officer

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Copy of press release, dated March 8, 2010, 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:	March 8, 2010
Contact:	Peter B. Orthwein or Richard Riegel

THOR ANNOUNCES RESULTS FOR QUARTER, SIX MONTHS;
IMPROVING RV MARKET CONDITIONS, BUS EFFICIENCIES DRIVE GAINS.

Thor Industries, Inc. (NYSE:THO) today reported increased sales, net income and E.P.S. for the second quarter and six months ended January 31, 2010. Net income for the second quarter was $11,924,000 versus a loss of $14,860,000 last year. E.P.S. were 22¢ versus a loss of 27¢ last year. Sales for the second quarter were $430.0 million, up 90% from $226.7 million last year. Net income for the six months was $35,353,000, compared to a loss of $9,740,000 last year. E.P.S. for the six months were 65¢ versus a loss of 18¢ last year. Sales for the six months were $932.6 million, up 40% from $665.5 million last year.

RV income before tax in the quarter was $18,057,000 compared to a loss of $19,840,000 last year. Bus income before tax in the quarter was $6,233,000, up 67% from $3,723,000 last year. RV sales in the quarter were $335.8 million, up 150% from $134.6 million last year. Bus sales in the quarter were $94.2 million, up 2% from $92.1 million last year. Net corporate costs in the quarter were $5.0 million vs. $6.8 million last year.

RV income before tax for the six months ended January 31, 2010 was $49,699,000 compared to a loss of $14,068,000 last year, a $64 million turnaround. Bus income before tax for the six months was $14,613,000, up 62% from $9,020,000 last year. RV sales for the six months ended January 31, 2010 were $725.7 million, up 56% from $465.0 million last year. Bus sales for the six months ended January 31, 2010 were $206.9 million, up 3% from $200.5 million last year. Net corporate costs for the six months ended January 31, 2010 were $7.8 million versus $9.7 million last year.

“Thor’s results continue to progress, propelled by improving RV market conditions and strong bus efficiencies. We continue to be profitable in all segments of our businesses, including motor homes, reflecting the permanent cost reductions we have made,” said Peter B. Orthwein, Thor chairman.

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 AND 6 MONTHS ENDED JANUARY 31, 2010 and 2009
$000 except per share — unaudited

	3 MONTHS ENDED JANUARY 31,												6 MONTHS ENDED JANUARY 31,
	2010			%			2009			%			2010		%			2009			%
Net sales	$	430,025					$	226,683					$	932,577				$	665,500
Gross profit	$	49,996			11.6	%	$	8,157			3.6	%	$	119,767		12.8	%	$	48,220			7.2	%
Selling, general and administrative	$	31,087			7.2	%	$	30,107			13.3	%	$	65,854		7.1	%	$	64,373			9.7	%
Amortization of intangibles	$	77			0.0	%	$	656			0.3	%	$	168		0.0	%	$	856			0.1	%
Operating income	$	18,832			4.4	%	$	(22,606	)		-10.0	%	$	53,745		5.8	%	$	(17,009	)		-2.6	%
Interest income (net)	$	1,101			0.3	%	$	1,372			0.6	%	$	2,672		0.3	%	$	3,259			0.5	%
Gain on sale of property	$	—			0	%	$	373			0.2	%	$	—		0.0	%	$	373			0.1	%
Net impairment of auction rate securities	$	—			0	%	$	1,853			0.8	%	$	—		0.0	%	$	1,853			0.3	%
Other income	$	(680	)		-0.2	%	$	(237	)		-0.1	%	$	89		0.0	%	$	529			0.1	%
Income before taxes	$	19,253			4.5	%	$	(22,951	)		-10.1	%	$	56,506		6.1	%	$	(14,701	)		-2.2	%
Taxes	$	7,329			1.7	%	$	(8,091	)		-3.6	%	$	21,153		2.3	%	$	(4,961	)		-0.7	%
Net income	$	11,924			2.8	%	$	(14,860	)		-6.6	%	$	35,353		3.8	%	$	(9,740	)		-1.5	%
E.P.S. — basic		22¢						(27)¢						65¢					(18)¢
E.P.S. — diluted		22¢						(27)¢						65¢					(18)¢
Avg. common shares outstanding-basic		53,665,620						55,435,315						54,551,272					55,421,946
Avg. common shares outstanding-diluted		53,762,528						55,435,315						54,639,650					55,421,946

SUMMARY BALANCE SHEETS — JANUARY 31, ($000) (unaudited)

	2010		2009			2010		2009
Cash and equivalents	$	67,563	$	191,099	Current liabilities	$	208,864	$	176,302
Investments, short term		76,300		—	Other liabilities		63,866		47,018
Accounts receivable		147,345		54,642	Stockholders’ equity		590,182		683,523
Inventories		162,165		153,779
Deferred income tax and other		43,415		50,572
Total current assets		496,788		450,092
Fixed assets		141,806		147,162
Long term investments		12,983		118,961
Goodwill		148,411		158,128
Other assets		62,924		32,500
Total	$	862,912	$	906,843	Total	$	862,912	$	906,843