Vancouver, British Columbia--(Newsfile Corp. - September 22, 2015) - CanaDream Corporation (TSXV: CDN) a market leader in the Canadian recreational vehicle rental & sales industry, reported record revenue of $14,156,000 for the 1st quarter ended July 31, 2015, an increase of 14% compared to the $12,464,000 reported in the comparable quarter in 2014.
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Net income was $3,317,000, an increase of 19% compared to the $2,795,000 reported in the comparable period in 2014, with earnings per share of 17.2 cents versus 14.6 cents in 1st quarter of 2014.
The company maintains 6 company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax, and through its partnership with Apollo Motorhome Holidays, provides clients with RV's in Australia, New Zealand and the USA.
The company recently purchased approximately 4 acres in the Vancouver suburb of Delta, where it plans to build an 18,000 square foot facility. The need for new space was a result of continued growth along with the July acquisition of Westcoast Mountain Campers, a Western Canada competitor with RV rental operations in Vancouver and Calgary. The acquisition includes Westcoast's fleet, 2015 booked sales receivables, other fixed assets, goodwill and other intangible property.
As at the end of July, CanaDream's investment in their Guest fleet almost doubled, reaching $40.6 million, an increase of $19.1 million from April 30, 2015.
The company's core business, promoting the opportunity to "experience Canada at your own pace™" through the recreational vehicle experience, is seasonal in nature with the majority of its revenue generated from May to October. Although the company markets used vehicles on a continuous basis, vehicle sales are usually strongest from January to early summer.
The depressed Canadian dollar, and lower gas prices, appears to be benefiting tourism in Canada. According to the latest numbers available from Destination Canada, June represented the 7th month in a row of increased visitors from the United States.
The company is leveraging its proprietary technology to build a collective membership network of associate dealers that are fully interconnected to CanaDream's e-commerce systems, and has one associate dealer franchisee in Edmonton, Alberta.
The shares are trading at $0.70, and with 19.3 million shares outstanding, the company is capitalized at $13.5 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.
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