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Canadian RV manufacturer Glendale International Corp. reported a wider net loss for its fiscal fourth quarter, ended Nov. 30, hurt by restructuring charges as well as lower sales.
RTT News reported that the fourth-quarter net loss totaled $3.9 million (Canadian) compared to a net loss of $1.98 million the previous year. The Oakville, Ontario-based company noted that results included $1.6 million in restructuring charges.
The company’s RV division, comprised of Glendale RV and Travelaire Canada, posted a net loss of $403,000 compared to net earnings of $338,000 in the year-ago period.
Sales at Glendale RV plunged to $3.6 million from $10.1 million a year ago. Glendale cited a combination of negative economic factors including fluctuations in currencies, fluctuations in the price of oil, availability of credit and the negative conditions of the North American economy.
Sales at Travelaire rose to $3.2 million from $1.8 million, driven by the sale of work force accommodations, mobile office units and well site units for the natural resource and construction industries in Western Canada.