Thor Industries Inc. (NYSE: THOR
) reported Monday that its fiscal first-quarter net income rose 1.1% as strong customer demand for its recreation vehicles helped offset a drop in margins. Net income climbed to $23.7 million, or 44 cents per share, from $23.4 million, or 42 cents per share, in the year-earlier quarter. Revenue jumped 21% to $606.7 million from $502.6 million in the same quarter last year. Analysts, on average, expected the company to report earnings of 54 cents per share on revenue of $607.17 million. "In the first quarter Thor invested heavily in growth and future profitability through the acquisition of Heartland RV, capital expenditures of approximately $16,500,000, and development of exciting new products which will be shown at this week's RVIA Expo in Louisville, KY," said Peter B. Orthwein, Thor chairman. "Beyond the costs related to Thor's acquisition of Heartland RV, gross margins were impacted by increased discounting as dealers remained cautious entering the slowest season of the year. Thor's retail RV sales continue to be strong which is encouraging," he added.
SodaStream International Ltd. (NASDAQ: SODA
) said Monday that its third-quarter net income declined to EURO2.1 million or EUR0.16 per share, from EUR2.5 million, or EUR0.19 per share, in the prior-year quarter. On an adjusted basis, the company earned EUR0.31 per share in the latest quarter. Revenue surged 51.7% to EUR42.0 million from EUR27.7 million. Shares of the company rallied more than 5% in extended trading.
Disclosure: Author doesn't own any of the stocks discussed here.