Thor Industries Inc. (NYSE:THO) today announced financial results for the third quarter and nine months ended April 30. Highlights of the Company’s financial results follow:

Sales from continuing operations for the third quarter of fiscal 2014 were $1.05 billion, up 13 percent from $929.8 million in the third quarter last year, as sales of towable and motorized RVs rebounded from the impact of severe winter weather during early calendar 2014.

Gross profit margins improved to 13.6 percent in the third quarter compared to 13.4 percent in the prior year period.

Net income from continuing operations for the third quarter was $55.1 million, up 13 percent from $48.7 million in the prior-year third quarter. Including the discontinued operations of Thor’s Bus business, net income for the third quarter was $55.1 million, up 26 percent from $43.8 million in the third quarter of fiscal 2013.

Diluted earnings per share (EPS) from continuing operations for the third quarter was $1.03, up 12 percent from $0.92 in the third quarter last year. Including the discontinued operations of Thor’s Bus business, diluted EPS for the third quarter was $1.03, up 26 percent from $0.82 in the third quarter of fiscal 2013.

Sales from continuing operations for the nine months ended April 30, were $2.48 billion, up 7 percent from $2.33 billion in the prior year.

Net income from continuing operations for the nine months ended April 30, was $108.7 million, up 13 percent compared to $96.5 million in the first nine months of fiscal 2013. Including discontinued operations, net income for the 9 months was $112.4 million, up 19 percent from $94.6 million in the first 9 months of the prior year.

Diluted EPS from continuing operations for the 9 months ended April 30, was $2.04, up 12 percent from $1.82 in the first nine months of the prior year. Including discontinued operations, diluted EPS for the nine months was $2.11, up 19 percent from $1.78 in the first nine months of fiscal 2013.

“As we emerged from the tough conditions of the past winter, we were able to post improvements in sales and bottom-line results for the third quarter,” said Bob Martin, Thor President and CEO. “We are in the process of addressing production capacity challenges as we are in the early stages of ramping up our newest motorized production facility in Elkhart, resulting in some short-term costs and inefficiencies which we expect will result in long-term gains in our operations.

The industry is also facing tight labor markets in northern Indiana, as well as a shortage of capacity at transport companies, both of which will continue to affect our business in the fourth quarter. Despite these challenges, the continuing strength of our dealers and consumers, as well as the actions we’ve taken to secure the long-term health of our business, give us reason for optimism,” he added.

Source: Thor Industries Inc., Inside INdiana Business