National Press Release

JACKSON CENTER, Ohio, March 9 /PRNewswire-FirstCall/ -- Thor Industries, Inc. (NYSE: THO) announced results for the second quarter and six months ended January 31, 2009.

Sales for the quarter were $226,683,000 versus $599,170,000 last year. Net loss for the quarter was $14,860,000 compared to net income of $21,602,000 last year. E.P.S. for the quarter were (27 cents) versus 39 cents last year.

Sales for the six months were $665,500,000 versus $1,362,906,000 last year. Net loss for the six months was $9,740,000 versus net income of $59,811,000 last year. E.P.S. for the six months were (18 cents) versus $1.07 last year

RV sales in the quarter were $134,573,000 versus $505,266,000 last year. Bus sales in the quarter were $92,110,000 compared to $93,904,000 last year. RV sales in the six months were $464,975,000 versus $1,169,477,000 last year. Bus sales in the six months were a record $200,525,000 up 4% from $193,429,000 last year. RV loss before tax was $19,840,000 in the quarter versus income before tax of $34,053,000 for the same period last year and RV loss before tax was $14,068,000 in the first six months of fiscal 2009 versus income before tax of $91,718,000 for the same period last year. Bus income before tax in the quarter was $3,723,000 versus $3,556,000 last year and $9,020,000 in the six months, up 17% from $7,695,000 last year. Corporate net costs were $6,834,000 in the quarter versus $2,403,000 last year and $9,653,000 in the six months versus $3,727,000 last year. Included in costs were non-cash charges of $564,000 for impairment of trademarks and $1,853,000 net loss on impairment of auction rate securities.

Cash, cash equivalents and investments on January 31, 2009 were $310.1 million, up from $234.3 million last year and the company continues to have zero debt.

"This is our first loss in over 17 years, reflecting the recession, record low consumer confidence, and severe credit restrictions. Fortunately, we have the financial resources to continue to set ourselves apart from our competitors. We were the only manufacturer in 2008 to increase our market share in all four major RV categories, travel trailers, fifth wheels, Class As, and Class Cs. The Bus industry is expected to benefit from the American Recovery and Reinvestment Act (the federal stimulus package) which includes $8.4 billion for mass transportation," said Wade F. B. Thompson, Thor chairman.

This release includes certain statements that are "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements involve uncertainties and risks. There can be no assurance that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, additional issues that may arise in connection with the findings of the completed investigation of the Audit Committee of the Board of Directors of Thor Industries, Inc. (the "Company") and the SEC's requests for additional information, fuel prices, fuel availability, lower consumer confidence, interest rate increases, tight lending practices, increased material costs, the success of new product introductions, the pace of acquisitions, cost structure improvements, the impact of auction market failures on our liquidity, competition and general economic conditions and the other risks and uncertainties discussed more fully in Item 1A of the Company's Annual Report on Form 10-K for the year ended July 31, 2008 and Part II, Item 1A of the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2008. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in the Company's expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based except as required by law.

                              THOR INDUSTRIES, INC.
    STATEMENT OF INCOME FOR THE 3 AND 6 MONTHS ENDED JANUARY 31, 2009 and 2008
                        $000 except per share - unaudited

                      3 MONTHS ENDED JANUARY 31  6 MONTHS ENDED JANUARY 31
                              2009        2008           2009        2008
                              ----        ----           ----        ----

    Net sales             $226,683    $599,170       $665,500  $1,362,906
    ---------
    Gross profit            $8,157     $69,717        $48,220    $170,992

    Selling, general
     and administrative    $30,107     $39,619        $64,373     $84,816

    Amortization of
     intangibles              $656        $200           $856        $413

    Operating income
     (loss)               $(22,606)    $29,898       $(17,009)    $85,763

    Interest income
     (net)                  $1,372      $2,808         $3,259      $6,644

    Gain on sale of
     property                 $373      $2,308           $373      $2,308

    Net impairment of
     auction rate
     securities             $1,853          $-         $1,853          $-

    Other income             $(237)       $192           $529        $971
                             -----        ----           ----        ----

    Income before taxes   $(22,951)    $35,206       $(14,701)    $95,686
    -------------------

    Taxes                  $(8,091)    $13,604        $(4,961)    $35,875
                           -------     -------        -------     -------

    Net income            $(14,860)    $21,602        $(9,740)    $59,811
    ----------            ========     =======        =======     =======

     E.P.S. - basic         $(0.27)      $0.39         $(0.18)      $1.07
     E.P.S. - diluted       $(0.27)      $0.39         $(0.18)      $1.07


    Avg. common shares
     outstanding-basic  55,435,315  55,758,534     55,421,946  55,757,936
    Avg. common shares
     outstanding-
     diluted            55,435,315  55,910,429     55,421,946  55,937,211



                SUMMARY BALANCE SHEETS - JANUARY 31 ($000) (unaudited)

                         2009        2008                     2009        2008
                         ----        ----                     ----        ----
    Cash and                                Current
     equivalents     $191,099     $87,935    liabilities  $176,302    $278,043
    Investments,                            Other
     short term             -     146,350    liabilities    47,018      47,707
    Accounts                                Stockholders'
     receivable        54,642     187,676    equity        683,523     681,104
    Inventories       153,779     200,975
    Deferred income
     tax and other     50,572      30,165
                       ------      ------
    Total current
     assets           450,092     653,101
    Fixed assets      147,162     157,366
    Long term
     investments      118,961           -
    Goodwill          158,128     165,663
    Other assets       32,500      30,724
                       ------      ------
    Total            $906,843  $1,006,854                 $906,843  $1,006,854
                     ========  ==========                 ========  ==========

SOURCE Thor Industries, Inc.