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Glendale International Corp. posted lower sales and earnings in its fiscal first quarter, ended Feb. 25, citing the impact of a strong Canadian dollar on its core recreational vehicles business.
The Oakville, Ontario, Canada firm, parent to RV manufacturer Glendale Recreational Vehicles/Travelaire Canada, reported sales for the quarter fell to $37.5 million (Canadian) from $41.2 million last year while earnings also declined to $200,000 from $600,000.
Glendale said sales for its RV business during the quarter were $20.6 million, down from $26.8 million a year earlier.
The company did note that it experienced an unusually strong first quarter in fiscal 2004 resulting from about $1.3 million in shipments being delayed from the previous quarter.
In addition to the RV industry, Glendale International operates in the electronics and technology sectors. It owns a controlling stake in Firan Technology Group Corp., a supplier of printed circuits to the aerospace and defense industries.