Canada’s Glendale International Corp. is continuing to penetrate into the U.S. RV market and this was reflected in the 37% RV revenue growth the company was able to achieve during its first fiscal quarter, which ended on March 1.
Glendale, a Toronto Stock Exchange-listed company, added several new dealers late in 2002 and its Titanium luxury fifth-wheel is “outpacing overall growth in the industry,” according to the Oakville, Ontario-based firm.
Glendale, which also makes navigation controls and electronic components, reports it achieved $28.5 million (Canadian) in RV sales during the December-through-February period, a 37% increase over the same period a year earlier.
One Canadian dollar now is worth almost 68 cents in U.S. currency.
The company’s RV division also posted an 88% increase in operating earnings during its first fiscal quarter to $2.6 million (Canadian).
“The RV Division’s performance was achieved against a backdrop of overall declining consumer confidence in the U.S. and growing concern about conflict in the Middle East,” said Edward Hanna, president and CEO. “These issues and rising gasoline prices had some effect on the RV sector, although the long-term outlook remains positive with favorable demographics and the growing popularity of RVs.”