Canada’s Glendale International Corp. reported sharply higher summer quarter RV sales and earnings.
The company’s RV-related earnings climbed 49% to $1.6 million (Canadian) during the third quarter of its fiscal year, which ended Aug. 31. It’s RV sales increased 24% to $21.6 million (Canadian) during the June-through-August period.
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“The third (fiscal) quarter is traditionally the second slowest period for the RV business, so the improvement, given the overall economic climate, is encouraging,” said Ed Hanna, president and CEO.
Glendale’s RV sales increased because of the “continuing emphasis on product innovation and the strategy to increase RV sales and marketing efforts in the U.S.,” according to the company.
Despite the strong third fiscal quarter, Glendale’s RV-related earnings were down 13% during the nine months ended Aug. 31 to $5 million (Canadian) and its RV sales declined 7% to $75.6 million (Canadian).
Glendale also makes navigational equipment and electronic components. Its total third fiscal quarter earnings increased 71% to $339,000 (Canadian) and its profits were up threefold during the nine months ended Aug. 31 to $1.8 million (Canadian).
The company’s total third fiscal quarter sales increased 10% to $33.1 million (Canadian) although its total sales were down 2% during the nine months ended Aug. 31 to $110.1 million (Canadian).