Glendale International Corp., parent to recreational vehicle manufacturers Glendale RV and Travelaire Canada, reported a decline in sales and income for the Canadian company’s second quarter, ended May 27.
Sales for the second quarter of fiscal 2005 were $48.9 million compared with $54.9 million for the second quarter of fiscal 2004. Net earnings for the three-month period fell to $1.7 million from $2.5 million in fiscal 2004.
Sales for the first six months were $86.4 million compared with $96.1 million last year while net income was $1.9 million versus $3.1 million the previous year.
Sales generated by Glendale’s RV operations during the second quarter were $29 million compared with $36.2 million in 2004. The company said the decline is primarily due to increased price competition caused by the higher Canadian dollar along with higher gasoline prices. Operating earnings from RV operations dropped to $2.6 million from $3.8 million for the same quarter last year.
Other interests for Glendale, based in Oakdale, Ontario, Canada, include Firan Technology Group Corp., an aerospace and defense supplier of advanced technology printed circuits, and Fernau Avionics, a supplier of ground-based air navigational systems.