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CanaDream Corporation Reported Record Financial Results for the Quarter Ended July 31, 2015 - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2015) - CanaDream Corporation (TS...
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[{"type":"text","content":"CanaDream Corporation Reported Record Financial Results for the Quarter Ended July 31, 2015 - Video News Alert on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - September 22, 2015) - CanaDream Corporation (TSXV: CDN) a market leader in the Canadian recreational vehicle rental & sales industry, reported record revenue of $14,156,000 for the 1st quarter ended July 31, 2015, an increase of 14% compared to the $12,464,000 reported in the comparable quarter in 2014. InvestmentPitch.com has produced a \"video news alert\" which discusses the company and this news. 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_7badhmko/CanaDream-Corporation-TSXVCDN-reported-record-financial-results-for-the-three-months-ended-July-31-2015Net income was $3,317,000, an increase of 19% compared to the $2,795,000 reported in the comparable period in 2014, with earnings per share of 17.2 cents versus 14.6 cents in 1st quarter of 2014. The company maintains 6 company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax, and through its partnership with Apollo Motorhome Holidays, provides clients with RV's in Australia, New Zealand and the USA. The company recently purchased approximately 4 acres in the Vancouver suburb of Delta, where it plans to build an 18,000 square foot facility. The need for new space was a result of continued growth along with the July acquisition of Westcoast Mountain Campers, a Western Canada competitor with RV rental operations in Vancouver and Calgary. The acquisition includes Westcoast's fleet, 2015 booked sales receivables, other fixed assets, goodwill and other intangible property. As at the end of July, CanaDream's investment in their Guest fleet almost doubled, reaching $40.6 million, an increase of $19.1 million from April 30, 2015.The company's core business, promoting the opportunity to \"experience Canada at your own pace™\" through the recreational vehicle experience, is seasonal in nature with the majority of its revenue generated from May to October. Although the company markets used vehicles on a continuous basis, vehicle sales are usually strongest from January to early summer. The depressed Canadian dollar, an...