Twitter Facebook LinkedIn YouTube

Canadream (TSXV: CDN) Reported record revenues on a year to date basis

Video Platform Video Management Video Solutions Video Player

CanaDream Corporation, a market leader in the Canadian recreational vehicle rental & sales industry, reported record revenues on a year to date basis. For the 9 months ended January 31, 2017, revenues hit $40.3 million, an increase of 15% over the $34.9 million reported in the 9 months ending January 31, 2016.

Additional Information:

Company: Canadream Corporation
Website: http://www.canadream.com
Stock Symbol: TSXV: CDN
Date Published: Mar 8, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch media

CanaDream Corporation, a market leader in the Canadian recreational vehicle rental & sales industry, reported record revenues on a year to date basis.

For the 9 months ended January 31, 2017, revenues hit $40.3 million, an increase of 15% over the $34.9 million reported in the 9 months ending January 31, 2016.

Net income of $5.7 million was up 7% from the $5.3 million reported in the comparable 9 month period in 2016, with earnings per share of 29.0 cents, up 7% from the 27.2 cents reported in comparable period in 2016.

At January 31, 2017, investment in the Guest fleet was $30.6 million, an increase of $5.3 million from April 30, 2016, net of fleet purchases and disposals.

Guest revenue increased 9% due to increased average nightly revenue.

Fleet sales revenue increased 25% due to a higher volume of unit sales of Guest fleet and fleet inventory.

The company turns over its inventory of recreational vehicles and fleet inventory on a continuous basis throughout the year, on both a wholesale and retail basis, with sales generally strongest from January to early summer.

The company’s core business, promoting the opportunity to “experience Canada at your own pace™” is seasonal in nature, with the company entering its slower period between November and April, when it normally experiences operating losses.

The company utilizes its proprietary B to B web-enabled system, www.canadasbest.com, and its business-to-consumer on-line internet reservation system, www.canadream.com, to operate and expand its network of RV rental locations in Canada.

CanaDream maintains 6 company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax.

CanaDream offers a global RV solution by partnering with Apollo Motorhome Holidays in Australia, New Zealand and the USA.

The company is also leveraging its proprietary technology to build a collective membership network of associate dealers that are fully interconnected to CanaDream's e-commerce systems, and currently has one associate dealer franchisee in Edmonton, Alberta.

The shares are trading at $1.65 and with 19.5 million shares outstanding, the company is capitalized at $32.2 million.

For more information, please visit the company’s website www.CanaDream.com or contact Brian Gronberg, President & CEO at 800-461-7368 or email brian@CanaDream.com.

I’m Samantha Deutscher for Investmentpitch media