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 1, 2005

Thor Industries, Inc.
(Exact Name of Registrant as Specified in Charter)

Delaware
(State or Other Jurisdiction of
Incorporation) 1-9235
(Commission File Number) 93-0768752
(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 1, 2005, Thor Industries, Inc. (the “Company”) issued a press release announcing certain financial results for the second quarter and six months ended January 31, 2005. 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 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.

     (c) Exhibits

Exhibit Number	Description
99.1	Copy of press release, dated March 1, 2005, 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 3, 2005	By: /s/ Walter Bennett Name: Walter Bennett Title: Executive Vice President

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Copy of press release, dated March 1, 2005, 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
N E W S   R E L E A S E

Date:	March 1, 2005
Contact:	Wade F. B. Thompson or Peter B. Orthwein

THOR REPORTS RECORD E.P.S., NET INCOME, SALES IN QUARTER, SIX MONTHS;
ANNOUNCES RECORD RECREATION VEHICLE ORDER.

Thor Industries, Inc. (NYSE:THO), the largest manufacturer of recreation vehicles and the largest builder of mid-size buses, announced today record results for the second quarter and six months ended January 31, 2005.

Net income for the quarter was a record $20,638,000, up 18% from $17,520,000 last year. E.P.S. for the quarter were 36¢, up 16% from last year’s 31¢. Sales for the quarter were $537,041,000, up 26% from $426,479,000 last year.

Net income for the six months was $55,711,000, up 35% from $41,224,000 last year. E.P.S. for the six months were 98¢, up 36% from 72¢ last year. Sales for the six months were $1,169,767,000, up 28% from $916,907,000 last year. Results include CrossRoads RV since acquisition on November 1, 2004.

RV income before tax in the quarter was $33,584,000, up 35% from $24,881,000 last year and was $89,179,000 in the six months, up 43% from $62,426,000 last year. RV sales in the quarter were $479,027,000, up 28% from $374,222,000 last year and were $1,061,323,000 in the six months, up 31% from $807,194,000 last year. Bus income before tax in the quarter was $1,343,000, down 61% from $3,419,000 last year and was $2,468,000 in the six months, down 60% from $6,151,000 last year. Bus sales were $58,014,000 in the quarter, up 11% from $52,257,000 last year and were $108,444,000 in the six months, down 1% from $109,713,000 last year. Corporate costs were $2,018,000 in the quarter versus $874,000 last year and were $2,722,000 in the six months versus $2,070,000 last year. Corporate costs in the three and six months of last year were reduced by a $1,814,000 gain on sale of equity securities.

Thor received an order from Cruise America, the largest renter of recreation vehicles, for motor homes valued at approximately $59,000,000. Last year, Cruise America purchased motor homes with a sales value of approximately $48,000,000.

Thor’s regular quarterly dividend of 3¢ per share will be paid on April 1, 2005 to stockholders of record on March 18, 2005.

This release includes “forward looking statements” that involve uncertainties and risks. There can be no assurance that actual results will not differ from the Company’s expectations. Factors which could cause materially different results include, among others, the success of new product introductions, the pace of acquisitions and cost structure improvements, competitive and general economic conditions, and the other risks set forth in the Company’s filings with the Securities and Exchange Commission.

THOR INDUSTRIES, INC.
STATEMENT OF INCOME FOR THE 3 AND 6 MONTHS ENDED JANUARY 31, 2005 and 2004
$000 except per share — unaudited

	3 MONTHS ENDED JANUARY 31										6 MONTHS ENDED JANUARY 31
	2005		%			2004		%			2005		%			2004		%
Net sales	$	537,041				$	426,479				$	1,169,767				$	916,907
Gross profit	$	67,832		12.6	%	$	53,335		12.5	%	$	158,606		13.6	%	$	119,543		13.0	%
Selling, general and administrative	$	35,493		6.6	%	$	28,526		6.7	%	$	71,572		6.1	%	$	56,541		6.2
Amortization of intangibles	$	269		.1	%	$	202		—		$	471		—		$	396		—
Gain on equity securities		—		—		$	1,814		.4	%		—		—		$	1,814		.2	%
Interest income (net)	$	474		.1	%	$	380		.1	%	$	1,236		.1	%	$	810		.1	%
Other income	$	365		.1	%	$	625		.1	%	$	1,126		.1	%	$	1,277		.1	%
Income before taxes	$	32,909		6.1	%	$	27,426		6.4	%	$	88,925		7.6	%	$	66,507		7.3	%
Taxes	$	12,271		2.3	%	$	9,906		2.3	%	$	33,214		2.8	%	$	25,283		2.8	%
Net income	$	20,638		3.8	%	$	17,520		4.1	%	$	55,711		4.8	%	$	41,224		4.5	%
E.P.S. — basic	$	.36				$	.31				$	.98				$	.72
E.P.S. — diluted	$	.36				$	.30				$	.97				$	.71
Avg. common shares outstanding-basic		56,712,923					57,327,356					56,834,930					57,276,091
Avg. common shares outstanding-diluted		57,141,714					57,701,234					57,210,661					57,668,857

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

	2005		2004			2005		2004
Cash and equivalents	$	70,122	$	42,338	Current liabilities	$	213,416	$	183,860
Investments, short term		14,174		43,572	Other liabilities		10,517		7,196
Accounts receivable		165,187		134,854	Stockholders’ equity		557,037		455,751
Inventories		194,225		156,411
Deferred income tax and other		20,612		16,774
Total current assets		464,320		393,949
Fixed assets		128,842		86,501
Investments — joint ventures		2,342		2,433
Goodwill		161,389		140,857
Other assets		24,077		23,067
Total	$	780,970	$	646,807		$	780,970	$	646,807