JACKSON CENTER, Ohio (AP) -- Bus and camper vehicle maker Thor Industries Inc. said Thursday that its profit grew 3 percent in its fiscal third quarter.
Net income rose to $41.3 million, or 78 cents per share, from $40 million, or 72 cents per share. Revenue increased 9 percent, to $926.5 million from $852.1 million. Thor's fiscal third quarter ended April 30.
Analysts forecast a profit of 80 cents per share on revenue of $925.4 million, according to FactSet.
Revenue from RVs rose 9 percent to $807.2 million, primarily on growth in towable units. Bus revenue also rose 9 percent, to $119.3 million. However the company said promotions hurt its profit margins. Thor's bus business was less profitable than it was a year ago because of increased product liability costs. The business also recorded a one-time $1.8 million gain a year ago.
Shares of Thor Industries lost 35 cents to close at $30.19.
