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): February 28, 2006

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

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 February 28, 2006, Thor Industries, Inc. (the “Company”) issued a press release announcing certain financial results for the second quarter and six months ended January 31, 2006. 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.

     (d) Exhibits

Exhibit Number	Description
99.1	Copy of press release, dated February 28, 2006, 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: February 28, 2006	By:	/s/ Walter Bennett
	Name:	Walter Bennett
	Title:	Executive Vice President

EXHIBIT INDEX

Exhibit Number	Description
99.1	Copy of press release, dated February 28, 2006, 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: February 28, 2006
Contact: Wade F. B. Thompson or Peter B. Orthwein

THOR REPORTS RECORD SALES, NET INCOME, EPS IN QUARTER, 6 MONTHS;
RESULTS FAR EXCEED WALL STREET ESTIMATES
BACKLOG UP 50%, HIGHEST EVER; RETAIL SALES VERY STRONG;
INCREASES QUARTERLY DIVIDEND 40% TO 7¢ PER SHARE;
MARKET SHARE IN ALL RV CATEGORIES INCREASES.

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, 2006.

Net income for the quarter was a record $31,874,000, up 54% from $20,638,000 last year. E.P.S. for the quarter were 56¢, up 56% from last year’s 36¢. Sales for the quarter were $642,047,000, up 20% from $537,041,000 last year.

Net income for the six months was $75,239,000, up 35% from $55,711,000 last year. E.P.S. for the six months were $1.33, up 36% from 98¢ last year. Sales for the six months were $1,403,370,000, up 20% from $1,169,767,000 last year.

RV income before tax in the quarter was $52,173,000, up 55% from $33,585,000 last year and was $121,963,000 in the six months, up 37% from $89,179,000 last year. RV sales in the quarter were $571,702,000, up 19% from $479,027,000 last year and were $1,254,032,000 in the six months, up 18% from $1,061,323,000 last year. Bus income before tax in the quarter was $1,985,000, up 48% from $1,342,000 last year and was $3,979,000 in the six months, up 61% from $2,468,000 last year. Bus sales were $70,345,000 in the quarter, up 21% from $58,014,000 last year and were $149,338,000 in the six months, up 38% from $108,444,000 last year. Corporate costs were $3,490,000 in the quarter versus $2,018,000 last year and were $5,836,000 in the six months versus $2,722,000 last year. Backlog on January 31, 2006, was $672 million,

the highest in the company’s history and up 50% from $449 million last year. RV backlog was $498 million, up 59% from last year’s $313 million and Bus backlog was $174 million, up 28% from $136 million last year.

Thor’s Board of Directors voted to increase its quarterly dividend 40% from 5¢ per share to 7¢ per share first payable on April 3, 2006 to stockholders of record on March 17, 2006.

“We are extremely pleased with these results, especially with the improvements in our gross and net margins. E.P.S. of 56¢ in the quarter were 9¢ per share higher than Wall Street consensus estimates of 47¢. Several factors contributed to this record performance, including continuing exceptional strength in our towables business; a decline in warranty costs in the quarter; profits at Thor California versus a loss last year; and improvements in bus sales and profits,” said Wade F. B. Thompson, Thor Chairman. “Our RV unit retail sales in the quarter, excluding units to hurricane evacuees, were up 18% to 12, 975 units versus 11, 027 units last year, based on our internal tracking system. In January 2006, our RV retail unit sales were up 34% over last year, excluding hurricane related units. With our record cash and backlog we expect increases in sales and profitability to continue,” Thompson added.

In calendar 2005, Thor increased its market share in all of its RV product categories, according the Statistical Surveys. Thor’s travel trailer and fifth wheel U.S. market share increased to 30.8% from 29.8% in 2004. In motor homes, Thor’s market share increased to 12.5%, up from 11.3% last year and in park models, Thor’s market share increased to 25.8% in 2005 from 24.6% in 2004. Travel trailers and fifth wheels, which account for about 68% of Thor sales, continue to be the RV industry’s fastest growth segment.

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, 2006 and 2005
$000 except per share — unaudited

	3 MONTHS ENDED JANUARY 31										6 MONTHS ENDED JANUARY 31
	2006		%			2005		%			2006		%			2005		%
Net sales	$	642,047				$	537,041				$	1,403,370				$	1,169,767
Gross profit	$	89,963		14.0	%	$	67,832		12.6	%	$	201,605		14.4	%	$	158,606		13.6	%
Selling, general and administrative	$	40,999		6.4	%	$	35,493		6.6	%	$	85,098		6.1	%	$	71,572		6.1	%
Amortization of intangibles	$	238		—		$	269		.1	%	$	475		—		$	471		—
Interest income (net)	$	1,815		.3	%	$	474		.1	%	$	3,148		.2	%	$	1,236		.1	%
Other income	$	127		—		$	365		.1	%	$	926		.1	%	$	1,126		.1	%
Income before taxes	$	50,668		7.9	%	$	32,909		6.1	%	$	120,106		8.6	%	$	88,925		7.6	%
Taxes	$	18,794		2.9	%	$	12,271		2.3	%	$	44,867		3.2	%	$	33,214		2.8	%
Net income	$	31,874		5.0	%	$	20,638		3.8	%	$	75,239		5.4	%	$	55,711		4.8	%
E.P.S. — basic	$	0.56				$	0.36				$	1.33				$	0.98
E.P.S. — diluted	$	0.56				$	0.36				$	1.32				$	0.97
Average common shares outstanding-basic		56,593,434					56,712,923					56,580,913					56,834,930
Average common shares outstanding-diluted		56,982,007					57,141,714					56,942,738					57,210,661

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

	2006		2005			2006		2005
Cash and equivalents	$	117,258	$	70,122	Current liabilities	$	280,555	$	213,416
Investments, short term		112,737		14,174	Other liabilities		13,035		10,517
Accounts receivable		178,620		165,187	Stockholders’ equity		672,428		557,037
Inventories		190,858		194,225
Deferred income tax and other		23,645		20,612
Total current assets		623,118		464,320
Fixed assets		147,940		128,842
Investments — joint ventures		2,923		2,342
Goodwill		165,663		161,389
Other assets		26,374		24,077
Total	$	966,018	$	780,970		$	966,018	$	780,970