Short answer
Thor Industries Inc (THO) filed its fiscal 2008 10-K annual report with the SEC on Sep 29, 2008.
- Top risk flagged: SEC investigation into Dutchmen restatement, with potential civil injunctions, monetary penalties, or administrative relief
Thor Industries Inc FY2008 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core model: North American manufacturer and dealer-distributor of recreation vehicles and small-to-mid-size buses
- New 2008 product: Damon introduced Avanti, a fuel-efficient Class A diesel motorhome
- Strategic shift: Retail financing ended after Thor Credit dissolution, prompting exploration of replacement financing options
- Quantitative standout: Recreation vehicle backlog fell to $145,566 from $360,854, while bus backlog rose to $260,805
- Market pressure: Repurchase and guarantee reserve increased to $5,040 from $1,293 amid a more difficult recreation vehicle market
Management Discussion & Analysis
- Revenue $2,640,680, down 7.5% YoY, with RV sales down 9.4% and buses up 3.8%
- Gross margin 12.2% vs 12.7%, while pretax margin declined to 5.8% from 6.9%
- Best segment buses: sales $415,725, pretax margin 5.1% vs 4.7%; worst motorized RVs: sales $461,856, pretax margin (.1)% vs 4.4%
- Capital allocation: $14,815 capex, $111,693 special dividends, $13,561 share buybacks
- Fiscal 2009 outlook: continued RV weakness from fuel prices, tighter credit and low confidence; planned capex $8,823
Risk Factors
- SEC investigation into Dutchmen restatement, with potential civil injunctions, monetary penalties, or administrative relief
- Record fuel prices and tighter retail credit markets, with fiscal 2009 weakness anticipated across recreation vehicles
- Chassis concentration: Ford and General Motors dominated motorhome and bus supply
- Aggressive competitor discounting, reducing recreation vehicle sales and profit margins
- Auction-rate securities: $132,550 par value, $6,147 impairment, and potential recovery delay up to 40 years
- CEO Wade Thompson voting control: 29.4% of outstanding voting stock as of September 15, 2008
Generated from the filing text; verify against the original. How to read a 10-K
Other Thor Industries Inc annual reports
- FY2019 10-KFiled Sep 30, 2019
- FY2018 10-KFiled Sep 20, 2018
- FY2017 10-KFiled Sep 27, 2017
- FY2016 10-KFiled Sep 26, 2016
- FY2015 10-KFiled Sep 21, 2015
- FY2014 10-KFiled Sep 25, 2014
- FY2013 10-KFiled Sep 26, 2013
- FY2012 10-KFiled Sep 26, 2012
- FY2011 10-KFiled Sep 28, 2011
- FY2010 10-KFiled Sep 29, 2010
- FY2009 10-KFiled Sep 29, 2009
- FY2007 10-KFiled Oct 1, 2007
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