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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
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2016) - CanaDream Corporation (TSX...
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[{"type":"text","content":"\nCanaDream 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.comVancouver, 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.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_ndi01gqx/CanaDream-Corporation-TSXV-CDN-Continues-to-Report-Record-Financial-ResultsNet 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 gl...