Thistle Hotels (LSE:THO)
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Thor Backlog Up 75% to a Record High
Forbes Names Thor Top Consumer Durables Company in its Listing of America's Best
Managed Companies.
JACKSON CENTER, Ohio, Jan. 6 /PRNewswire-FirstCall/ -- Thor reported that its
December 31, 2003 backlog was $477 million, the highest in the company's
history. It is up 75% from $274 million last year. RV backlog was $378
million, up 112% from $178 million last year. RV backlog includes the 1,000
unit order from Cruise America announced yesterday and backlog of $64 million of
Damon acquired on September 2, 2003. Last year's backlog excludes Damon. Bus
backlog was $99 million, up 4% from $95 million last year.
In Forbes Best Managed Companies in America issue (January 12, 2004) Thor
achieved the highest 5 year annualized total return, of 39.2%, easily leading
the consumer durables category. Forbes noted that "these companies exude
excellence-in how they're managed and in financial performance."
In addition to 5 year total return, Forbes judged companies for long-and
short-term sales and earnings growth, long-term earnings forecasts from Thomson
First Call, market leadership, innovation, and efficiency.
Included in the Consumer Durables listing are well known companies such as
Honda, Nissan, BorgWarner, Brunswick, Harley Davidson, Snap-on, Toro, Paccar,
and American Axle.
Thor is the largest manufacturer of recreation vehicles and the largest builder
of mid-size buses.
This release includes "forward looking statements" that involve uncertainties
and risks. There can be no assurance that actual results will not differ from
the Company's expectations. Factors which could cause materially different
results include, among others, the success of new product introductions, the
pace of acquisitions and cost structure improvements, competitive and general
economic conditions, and the other risks set forth in the Company's filings with
the Securities and Exchange Commission.
DATASOURCE: Thor Industries, Inc.
CONTACT: Wade F. B. Thompson or Peter Orthwein, both for Thor
Industries, Inc., +1-937-596-6849, or Fax - +1-937-596-6539