Diversified Canadian manufacturer Glendale International Corp. reports its RV Division sales revenue increased 11% and its RV-related operating earnings climbed 53% higher during the second quarter of its fiscal year 2002, which ended on May 31.
An expanded U.S. dealer network and improved general RV market conditions in the U.S. and Canada explained Glendale’s 11% RV sales revenue growth during the March-through-May period to $40.9 million (Canadian).
Glendale’s second fiscal quarter RV operating earnings increased 53% to $4.6 million (Canadian).
One Canadian dollar is worth 63.4 cents in U.S. currency at current exchange rates.
Meanwhile, Glendale’s total second fiscal quarter net earnings increased 19% to $2.4 million (Canadian) and its total net income during the six months ended May 31 was up 108% to $3 million (Canadian).
The company’s second fiscal quarter total sales revenue increased 9% to $52.8 million (Canadian) and its total sales during the six months ended May 31 were up 13% to $86.8 million (Canadian).
Glendale builds travel trailers, fifth-wheels, park models and Class C motorhomes. The Glendale RV plant is in Strathroy, Ontario, and its Travelaire Canada subsidiary is in Red Deer, Alberta.
Glendale believes it accounts for 40% of the built-in-Canada RV market.