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CanaDream Corporation (TSXV:CDN) reported record financial results for the six months ended October 31, 2015

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CanaDream Corporation (TSXV:CDN) reported record financial results for the six months ended October 31, 2015, following record results previously reported for the quarter ending July 31, 2015. CanaDream, a market leader in the Canadian recreational vehicle rental & sales industry, reported revenue of $29.8 million for the 6 months ended October 31, 2015, an increase of 22% compared to the $24.5 million reported in the comparable 6 months in 2014.

Additional Information:

Company: CanaDream Corporation
Website: http://www.canadream.com/
Stock Symbol: TSXV:CDN
Date Published: Dec 14, 2015
Transcript: Available

Video Transcript:

I’m Amanda Rose Schellenberg for Investmentpitch media

CanaDream Corporation (TSXV:CDN) reported record financial results for the six months ended October 31, 2015, following record results previously reported for the quarter ending July 31, 2015.

CanaDream, a market leader in the Canadian recreational vehicle rental & sales industry, reported revenue of $29.8 million for the 6 months ended October 31, 2015, an increase of 22% compared to the $24.5 million reported in the comparable 6 months in 2014.

Net income was $7.8 million, an increase of 40% compared to the $5.6 million reported in the comparable period in 2014, with earnings per share of 40.6 cents, an increase of 38% versus 29.2 cents in 2014.

The company cautions that its core business, promoting the opportunity to “experience Canada at your own pace™” is seasonal in nature with the majority of its revenue being earned during the May to October period, with the last 2 quarters of the fiscal year from November to April normally experiencing operating losses.

Cash flow provided by operating activities increased by $1.5 million or 10%, reaching $15.8 million.

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.

During the six month period, guest revenue increased 17% due to an increase in the number of vehicles rented and higher average nightly revenue.

Fleet sales revenue increased 36% due to a higher volume of unit sales combined with a higher average selling price.

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 now 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.

In July, the company acquired Westcoast Mountain Campers, a Western Canada competitor with RV rental operations in Vancouver and Calgary.

As a result of this acquisition along with continued growth, the company purchased approximately 4 acres in the Vancouver suburb of Delta, in order to build an 18,000 square foot facility.

The shares are trading at $0.73, and with 19.3 million shares outstanding, the company is capitalized at $14.1 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 Amanda Rose Schellenberg for Investmentpitch media.