"Consolidated backlog on October 31, 2013 was $733.2 million, up 41.9% from $516.7 million at the end of the first quarter last year. Towable RV backlog increased 13.5% to $419.8 million, compared to $369.9 million at the end of the first quarter of fiscal 2013. Motorized RV backlog increased 113.6% to $313.4 million from $146.8 million a year earlier. "
The report was better than I expected. THO nearly always comes through and, over time, beats the market handily.
Ascena Retail Group, Inc. Reports First Quarter 2014 Results
– GAAP EPS $0.32; Adjusted EPS $0.36 –
– Total Comparable Sales Increased 4% –
– Company Reaffirms Fiscal 2014 Earnings Guidance –
SUFFERN, N.Y.--(BUSINESS WIRE)--Dec. 2, 2013-- Ascena Retail Group, Inc. (NASDAQ – ASNA) (the “Company”) today reported financial results for its fiscal first quarter ended October 26, 2013.
For the first quarter of Fiscal 2014, earnings from continuing operations were $0.33 per diluted share, while losses from discontinued operations were $0.01 per diluted share. This compares to earnings from continuing operations of $0.29 per diluted share and losses from discontinued operations of $0.02 per diluted share in the same period of Fiscal 2013. Adjusted earnings from continuing operations in the first quarter of Fiscal 2014 were $0.36 per diluted share, compared to $0.39 per diluted share in the prior year’s first quarter. The decrease in diluted earnings per share was primarily due to increased depreciation expense from growth and infrastructure investments. Reference should be made to Note 2 in the accompanying unaudited consolidated financial information for a discussion of the use of “Non-GAAP Financial Measures.”
David Jaffe, President and Chief Executive Officer of Ascena Retail Group, Inc., commented, “We were pleased that our top line momentum continued into the first quarter, with all of our brands generating positive total comps. We also continued to make progress on our strategic priorities during the quarter, including our synergy initiatives, which will position the business for long term growth.”
“We expect the retail environment to be challenging for the foreseeable future, with a highly promotional holiday season. We have taken a conservative approach to planning inventory, and have developed promotional contingencies to ensure we end the season clean. Regardless of the environment, our teams are focused on driving profitable growth, and we feel
Thor Announces Improved Results For First Quarter; Continued Focus On Long-Term Strategic Goals
ELKHART, Ind., Dec. 2, 2013 /PRNewswire/ -- Thor Industries, Inc. (NYSE: THO) today announced improved financial results for the first quarter ended October 31, 2013. Highlights of the Company's financial results were as follows:
•Sales from continuing operations for the first quarter of fiscal 2014 were $800.0 million, up 5% from $761.4 million in the first quarter last year, driven by continued strong growth in motorized recreational vehicle (RV) sales, which was partially offset by a small decrease in towable RV sales.
•Gross profit margins improved to 13.1% in the first quarter compared to 12.1% in the prior year period.
•Net income from continuing operations for the first quarter was $36.4 million, up 27% from $28.7 million in the prior-year first quarter. Including the discontinued operations of Thor's Bus business, net income for the first quarter was $41.1 million, up 33% from $31.0 million in the first quarter of fiscal 2013. Results of discontinued operations included a gain on the sale of the Bus business of approximately $7.8 million.
•Diluted earnings per share (EPS) from continuing operations for the first quarter was $0.68, up 26% from $0.54 in the first quarter last year. Including the discontinued operations of Thor's Bus business, diluted EPS for the first quarter was $0.77, up 33% from $0.58 in the first quarter of fiscal 2013.
•Thor completed the acquisitions of Livin' Lite and Bison Coach during the first quarter, expanding its breadth of products in complementary towable RV markets.
"Thor made significant progress toward achieving our strategic goals over the past year and that is evidenced by our improved financial results," said Bob Martin, Thor President and CEO. "Despite these improvements, we faced a number of short-term challenges as we transitioned the first motorized production line to Wakarusa near the end of the fir