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Thor preliminary 1Q sales below expectations

ELKHART, Ind. (AP) -- Recreational vehicle maker Thor Industries Inc. on Monday released preliminary sales estimates for the fiscal first quarter through October that were below analysts' expectations as towable RV sales fell.

Sales from continuing operations rose 5 percent to $802.6 million, below the $844.7 million expected by analysts polled by FactSet.

Sales of towable RVs, which include the Airstream and Dutchmen brands, fell 2 percent to $625.7 million. Motorized RV sales rose 45 percent to $176.9 million.

Thor CEO Bob Martin said the company is being "disciplined" in its production of towable RVs "to better balance our production with industry demand." The company is increasing production of motorized RVs.

The company reports its earnings on Dec. 2.

Shares fell $2.46, or 4.3 percent, to $54.90 in after-hours trading Monday. Earlier, shares had finished the regular session up 80 cents at $57.36.