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CanaDream Corporation (TSXV: CDN) continues to report record financial results

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CanaDream Corporation, a market leader in the Canadian recreational vehicle rental & sales industry, continues to report record financial results. For the quarter ended July 31, 2016, revenues hit $16.3 million, an increase of 15% over the $14.2 million reported in the comparable quarter in 2015.

Additional Information:

Company: CanaDream Corporation
Website: http://www.canadream.com
Stock Symbol: TSXV: CDN
Date Published: Sep 27, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch media

CanaDream Corporation, a market leader in the Canadian recreational vehicle rental & sales industry, continues to report record financial results. For the quarter ended July 31, 2016, revenues hit $16.3 million, an increase of 15% over the $14.2 million reported in the comparable quarter in 2015.

Net income of $4.2 million was up 27% from the $3.3 million reported in the 1st quarter in 2015, with earnings per share of 21.6 cents, up 20% from the 17.2 cents reported in comparable quarter in 2015.

At July 31, 2016, investment in the Guest fleet was $42 million, an increase of $16.8 million from April 30, 2016, net of fleet purchases and disposals.

Guest revenue increased 9% due to increased Guest fleet utilization combined with higher average nightly rates.

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 majority of its guest bookings and guest revenue being generated between May and October, the company is expected to report additional great numbers for the quarter ending October, before entering its slow period between November and April, when it normally experiences operating losses.

The company utilizes its proprietary business-to-business 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 $1.60 and with 19.5 million shares outstanding, the company is capitalized at $31.2 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