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Sep 30, 2019 10:05 AM ET

Thor Announces Financial Results For Fourth Quarter And Fiscal Year 2019

iCrowd Newswire - Sep 30, 2019

To date, the Company has paid down over $480 million of its acquisition financing debt

– Net sales for the fourth quarter increased 23.3% to $2.31 billion, including $719.5 million in net sales from Erwin Hymer Group (“EHG”), which was acquired on February 1, 2019.

– Gross margin for the fourth quarter improved 140 basis points over the prior year, to 14.4%, reflecting favorable product mix, labor and warranty cost percentage improvements.

– Net cash provided by operating activities for fiscal 2019 was $508.0 million as compared to net cash provided by operating activities of $466.5 million for fiscal 2018. To date, the Company has paid more than $480 million of principal on the debt incurred to finance the EHG acquisition

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