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CanaDream Corporation, a Market Leader in Canadian RV Rental & Sales, Reported Record Revenues on a Year to Date Basis - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - March 9, 2017) - CanaDream Corporation (TSXV: C...
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[{"type":"text","content":"\nCanaDream Corporation, a Market Leader in Canadian RV Rental & Sales, Reported Record Revenues on a Year to Date Basis - Video News Alert on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - March 9, 2017) - CanaDream Corporation (TSXV: CDN), a market leader in the Canadian recreational vehicle rental & sales industry, reported record revenues on a year to date basis. For the 9 months ended January 31, 2017, revenues hit $40.3 million, an increase of 15% over the $34.9 million reported in the 9 months ending January 31, 2016.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. It is also available for viewing on YouTube (click here).Cannot view this video? Visit:http://www.investmentpitch.com/video/0_9scyz3go/Canadream-TSXV-CDN-Reported-record-revenues-on-a-year-to-date-basisNet income of $5.7 million was up 7% from the $5.3 million reported in the comparable 9 month period in 2016, with earnings per share of 29.0 cents, up 7% from the 27.2 cents reported in comparable period in 2016.At January 31, 2017, investment in the Guest fleet was $30.6 million, an increase of $5.3 million from April 30, 2016, net of fleet purchases and disposals. Guest revenue increased 9% due to increased average nightly revenue.Fleet sales revenue increased 25% 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 wit...