Slumping sales hit Glendale

OAKVILLE, Ont. — Glendale International Corp. (TSX:GIN), the parent company of Red Deer-based Travelaire, said Wednesday that its first-quarter loss doubled to $2.3 million, pulled by a “decrease in sales and profitability” at its recreational vehicles division.

OAKVILLE, Ont. — Glendale International Corp. (TSX:GIN), the parent company of Red Deer-based Travelaire, said Wednesday that its first-quarter loss doubled to $2.3 million, pulled by a “decrease in sales and profitability” at its recreational vehicles division.

But the company also reported that its Travelaire division experienced improved performance, with its net loss decreasing to $565,000 from $950,000 for the same quarter of 2008.

Glendale’s overall loss amounted to 25 cents a share, and compared with a year ago loss of $1.1 million or 12 cents a share. Quarterly revenue for the period ended Feb. 27 fell 16 per cent to $19 million from $22.6 million.

Glendale said the loss at its RV division ballooned to $1.2 million from a loss of $195,000 a year ago.

“The decrease in sales and profitability for the first quarter (in the RV division) is the result of a combination of negative economic factors, including fluctuations in currencies, fluctuations in the price of oil, availability of credit, and the negative conditions of the North American economy,” the company said in a statement.

Sales at Travelaire were $2.8 million during the quarter, compared with $2.4 million in 2008. This improvement was attributed to sales of workforce accommodations, mobile office units and well site units for the natural resources and construction industries.

However, while Travelaire had an approximately two-month backlog of orders for commercial units at the end of the fourth quarter of 2008, by the end of the first quarter of 2009 there were no further orders.

Glendale, which is headquartered in Oakville, Ont., is also active in electronics manufacturing through Firan Technology Group Corp. (TSX:FTG), a publicly traded subsidiary.

Shares for Glendale fell 11.5 cents to 18.5 cents during midday trading on the Toronto Stock Exchange.

Just Posted

Sasktachewan pup, who has extensive burns, makes her way to Red Deer

Donations accepted for Phoenix who has third degree burns on her body

One airlifted to hospital after avalanche on glacier in Yoho National Park

LAKE LOUISE, Alta. — Parks Canada says it has responded to an… Continue reading

Hundreds of Canadian troops deployed to flood zones in Quebec and N.B.

MONTREAL — Quebec Premier Francois Legault will visit flood-damaged regions north of… Continue reading

Soldiers deploying to flood-prone areas as water levels rise in New Brunswick

MONTREAL — A woman in her 70s has died after driving her… Continue reading

WATCH: An ‘Eggstemely Fun Easter’ at Bower Place in Red Deer

Bower Place mall made sure Red Deer families were able to have… Continue reading

President attends Easter service following slew of tweets

PALM BEACH, Fla. — President Donald Trump is using Easter morning to… Continue reading

Easter Sunday blasts kill at least 207 in Sri Lanka

COLOMBO, Sri Lanka — At least 207 people were killed and hundreds… Continue reading

Soldiers deploying to flood-prone areas as water levels rise in New Brunswick

FREDERICTON — About 120 Canadian soldiers will soon be deployed in western… Continue reading

Soldiers deploy across Quebec after flood-caused sinkhole claims woman’s life

MONTREAL — Canadian Armed Forces are deploying in three regions across Quebec,… Continue reading

Dozens hurt in collapse of deck during wedding celebration in Langley, B.C.

LANGLEY, B.C. — Police say dozens of people were injured, some critically,… Continue reading

No winning ticket for Friday night’s $25 million Lotto Max jackpot

TORONTO — No winning ticket was sold for the $25.5 million jackpot… Continue reading

Uber driver charged in two sexual assault investigations: Toronto police

Toronto police say an Uber driver is facing sexual assault charges in… Continue reading

Most Read