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CanaDream Corporation, a Market Leader in Canadian RV Rental & Sales, Reports Record Financial Results for Quarter Ending July 31, 2016 - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2016) - CanaDream Corporation (TS...
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[{"type":"text","content":"\nCanaDream Corporation, a Market Leader in Canadian RV Rental & Sales, Reports Record Financial Results for Quarter Ending July 31, 2016 - Video News Alert on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - September 28, 2016) - CanaDream Corporation (TSXV: CDN), a market leader in the Canadian recreational vehicle rental & sales industry, continues to report record financial results. For the quarter ended July 31, 2016, revenues hit $16.3 million, an increase of 15% over the $14.2 million reported in the comparable quarter in 2015. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_ai5j4l0m/CanaDream-Corporation-TSXV-CDN-continues-to-report-record-financial-resultsInvestmentPitch.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).Net income of $4.2 million was up 27% from the $3.3 million reported in the 1st quarter in 2015, with earnings per share of 21.6 cents, up 20% from the 17.2 cents reported in comparable quarter in 2015. At July 31, 2016, investment in the Guest fleet was $42 million, an increase of $16.8 million from April 30, 2016, net of fleet purchases and disposals. Guest revenue increased 9% due to increased Guest fleet utilization combined with higher average nightly rates.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 majority of its guest bookings and guest revenue being generated between May and October, the company is expected to report additional great numbers for the quarter ending October, before entering its slow period between November and April, when it normally experiences 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 l...