Vancouver, British Columbia--(Newsfile Corp. - July 8, 2016) - CanaDream Corporation (TSXV: CDN), a market leader in the Canadian recreational vehicle rental & sales industry, continues to report record financial results.
InvestmentPitch.com has produced a "video news alert" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "CanaDream" in the search box.
Cannot view this video? Visit:
http://www.investmentpitch.com/video/0_a5y7mmui/CanaDream-Corporation-TSXV-CDN-continues-to-report-record-financial-results
For the year ended April 30, 2016, revenues hit $43.9 million, an increase of 29% over the $34.1 million reported in the previous year. Net income of $3.3 million was up 53% from the $2.1 reported in the previous year, with earnings per share of 16.8 cents, up 51% from the 11.1 cents reported in the previous year.
At April 30, 2016, investment in the Guest fleet was $25.3 million, an increase of $3.8 million, net of fleet purchases and disposals.
Guest revenue increased 18% due to increased Guest experience nights combined with higher average nightly rates, and fleet sales revenue increased 42% due to increased sales of Guest fleet and fleet inventory combined with higher average selling prices. 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. CanaDream is now in the middle of its peak period, with the majority of its guest bookings and guest revenue being generated between May and October, and the last 2 quarters of the fiscal year from November to April normally experiencing 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 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.
Investors loved these results, with the shares up $0.18 cents yesterday to a high of $1.24, which gave the company a capitalization of $24.2 million with 19.5 million shares outstanding.
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.
About InvestmentPitch Media
InvestmentPitch Media is arguably the largest producer and distributer of video news content, primarily for small and mid-cap companies. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com
