Canada’s Glendale International Corp. reports its first fiscal quarter RV sales declined 24% to $17.3 million (Canadian) and its RV operating profit was down 64% to $479,000 (Canadian) during the three months ended March 2.
One Canadian dollar is worth a little more than 65 cents in U.S. currency at current exchange rates.
The financial performance of Glendale’s RV operations were “consistent with those reported industry wide” but the company is “encouraged by the recent lowering of interest rates and the continued success of our new Titanium fifth-wheel in the marketplace,” said Morgan Firestone, chairman.
In total, Glendale’s first fiscal quarter sales declined 8% to $28.4 million (Canadian) and its net loss expanded to $537,000 (Canadian) during the December-through-February period.
In addition to RVs, which comprised 61% of Glendale’s total first fiscal quarter sales, the company is involved in supplying products in the aerospace, aviation, electronic components and plastics industries.