Canada’s Glendale International Corp. reported its second fiscal quarter earnings more than doubled despite a 4% decline in total sales and an 11% drop-off in RV sales revenue.
The company earned $2 million (Canadian) during the three months ended June 1, compared with $800,000 (Canadian) earned a year earlier.
One Canadian dollar now is worth a little less than 65 cents in U.S. currency.
Meanwhile, during the March-through-May period, Glendale’s total sales declined 4% to $48.6 million (Canadian) and its RV sales slipped 11% to $36.8 million (Canadian).
During the six months ended June 1, Glendale’s earnings more than tripled to $1.4 million (Canadian) despite the fact its total sales declined 6% to $77 million (Canadian).
For the remainder of this year, Glendale President and CEO Ed Hanna said, “The RV division should continue to maintain its competitive position despite sluggish market conditions.”