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CanaDream Corporation Reported Record Financial Results for 2nd Consecutive Quarter, Reporting Revenue of $29.8 Million for 6 Month Period - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2015) - CanaDream Corporation (TSX...
About this update from Cdn Maverick Capital Corp
[{"type":"text","content":"CanaDream Corporation Reported Record Financial Results for 2nd Consecutive Quarter, Reporting Revenue of $29.8 Million for 6 Month Period - Video News Alert on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - December 15, 2015) - CanaDream Corporation (TSXV: CDN) reported record financial results for the six months ended October 31, 2015, following record results previously reported for the quarter ending July 31, 2015. CanaDream, a market leader in the Canadian recreational vehicle rental & sales industry, reported revenue of $29.8 million for the 6 months ended October 31, 2015, an increase of 22% compared to the $24.5 million reported in the comparable 6 months in 2014. InvestmentPitch.com has produced a \"video news alert\" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"CanaDream\" in the search box. If you cannot view the video above, please visit: http://www.investmentpitch.com/video/0_ymtltaaj/CanaDream-Corporation-TSXVCDN-reported-record-financial-results-for-the-six-months-ended-October-31-2015Net income was $7.8 million, an increase of 40% compared to the $5.6 million reported in the comparable period in 2014, with earnings per share of 40.6 cents, an increase of 38% versus 29.2 cents in 2014. The company cautions that its core business, promoting the opportunity to \"experience Canada at your own pace™\" is seasonal in nature with the majority of its revenue being earned during the May to October period, with the last 2 quarters of the fiscal year from November to April normally experiencing operating losses. Cash flow provided by operating activities increased by $1.5 million or 10%, reaching $15.8 million. 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. During the six month period, guest revenue increased 17% due to an increase in the number of vehicles rented and higher average nightly revenue. Fleet sales revenue increased 36% due to a higher volume of unit sales combined with a higher average selling price. The company utilizes its proprietary business-to-business web-enabled system, www.canadasbest.com, and its business-to-consumer o...