CanaDream Corporation, a Market Leader in Canadian RV Rental & Sales, Reports Record Financial Results for Six Months Ending October 31, 2016 - Video News Alert on Investmentpitch.com

December 14, 2016 2:05 PM EST | Source: InvestmentPitch Media

Vancouver, British Columbia--(Newsfile Corp. - December 14, 2016) - CanaDream Corporation (TSXV: CDN), a market leader in the Canadian recreational vehicle rental & sales industry, continues to report record financial results.

For the six months ended October 31, 2016, revenues hit $34.8 million, an increase of 17% over the $29.8 million reported in the six months ending October 31, 2015.

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Net income of $8.4 million was up 7% from the $7.9 million reported in the comparable six month period in 2015, with earnings per share of 43.2 cents, up 6% from the 40.6 cents reported in comparable period in 2015.

At October, 2016, investment in the Guest fleet was $34.6 million, an increase of $9.3 million from April 30, 2016, net of fleet purchases and disposals. Guest revenue increased 10% due to increased average nightly revenue. Fleet sales revenue increased 33% 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 $1.64 and with 19.5 million shares outstanding, the company is capitalized at $32 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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