SYS-CON MEDIA Authors: AppDynamics Blog, Skytap Blog, Carmen Gonzalez, Pat Romanski, Kevin Jackson

News Feed Item

CanaDream Reports Net and Comprehensive Income of $3.1 Million

CALGARY, ALBERTA -- (Marketwired) -- 03/21/14 -- CanaDream Corporation (TSX VENTURE: CDN) today announced financial results for the nine months ended January 31, 2014, as follows:

Revenues for the nine months ended January 31, 2014 were $23.9 million, net and comprehensive income $3.1 million, and cash flow provided by operating activities $12.8 million.

The Company encourages interested parties to access CanaDream Corporation's Management's Discussion and Analysis (MD&A) on the SEDAR website, www.sedar.com, for a more detailed discussion of these results.

Summarized results for the nine months ended January 31, 2014 are as follows:


                                   Nine months ended January 31,
  -----------------------------------------------------------------------
                                             2014            2013  Change
  -----------------------------------------------------------------------
  Revenue                           $  23,863,000   $  23,436,000      2%
  Income before foreign currency
   forward contracts (gains),
   finance, and income tax
   expenses                         $   5,168,000   $   4,469,000     16%
  Income before income taxes        $   4,127,000   $   3,495,000     18%
  Net and comprehensive income      $   3,064,000   $   2,577,000     19%

  Cash provided by operating
   activities                       $  12,786,000   $  10,556,000     21%
  Basic earnings per share             16.3 cents      13.2 cents     23%
  Fully diluted earnings per
   share                               16.1 cents      13.1 cents     23%
  Weighted average shares
   outstanding                         18,801,412      19,548,474    (4%)
  Weighted average fully diluted
   shares outstanding                  18,996,227      19,718,071    (4%)
  -----------------------------------------------------------------------

For the nine month period ended January 31, 2014, CanaDream recorded net and comprehensive income of $3.1 million, a 19% increase from the prior period. Cash flow provided by operating activities of $12.8 million was a 21% increase from the prior period. Earnings per share (fully-diluted) of 16.1 cents increased 23% from the prior period.

Total revenue increased $427,000 or 2%. Fleet sales revenue increased 15% due to a larger number of units sold, with a corresponding increase in cost of services of 10%. Guest revenue decreased 3% due to decreased guest experience nights. Guest cost of services before employee compensation and benefits decreased 11% and employee compensation and benefits decreased 5%.

Investment in guest fleet increased $932,000 from April 30, 2013 levels to $23.9 million at January 31, 2014, primarily due to fleet purchases in the first quarter of $12.2 million combined with a transfer to fleet inventory available for sale of $5.4 million, disposals due to unit sales of $2.9 million, depreciation of $2.7 million and other additions of $191,000. Fleet and other financing increased $8.8 million from April 30, 2013 due to financing relating to the purchase of new fleet combined with the purchase of the Vancouver property and land in Balzac, Alberta.

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 being earned during the May to October period, the first and second quarters of its fiscal year. The majority of the company's cost of services expenses before employee compensation, benefits and depreciation are incurred in that same period. The Company markets for sale previously guest-experienced recreational vehicles and fleet inventory available for sale on a continuous basis throughout the year; however, sales of such units are generally strongest from January to early summer. As a result of ongoing depreciation, interest and other operating expenses, the last two quarters of the fiscal year normally produce operating losses. Losses incurred in the last two quarters may exceed profits earned in the first two quarters of the fiscal year. The financial data included in this release has been prepared in accordance with International Accounting Standard ("IAS") 34, Interim Financial Reporting.

CanaDream Corporation promotes Canada and the opportunity to "experience Canada at your own pace™" in recreational vehicles and sells its guest-experienced recreational vehicle fleet on a wholesale and retail basis. The Company is utilizing 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 six Company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax. CanaDream now offers a global RV solution by partnering with Apollo Motorhome Holidays in Australia, New Zealand and the USA. The Company is also leveraging its proprietary technology to build a collective membership network of associate dealers that are fully interconnected to CanaDream's e-commerce systems. CanaDream currently has one associate dealer franchisee in Edmonton, Alberta.

Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Datapipe has acquired GoGrid, a provider of multi-cloud solutions for Big Data deployments. GoGrid’s proprietary orchestration and automation technologies provide 1-Button deployment for Big Data solutions that speed creation and results of new cloud projects. “GoGrid has made it easy for companies to stand up Big Data solutions quickly,” said Robb Allen, CEO, Datapipe. “Datapipe customers will achieve significant value from the speed at which we can now create new Big Data projects in the clou...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your o...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial C...
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
“This win means a great deal to us because it is decided by the readers – the people who understand how use of our technology enables new insights that drive the business,” said Matt Davies, senior director, EMEA marketing, Splunk. “Splunk Enterprise enables organizations to improve service levels, reduce operations costs, mitigate security risks, enhance DevOps collaboration, create new product and service offerings and obtain deeper insight into customer behavior. Being named Best Business App...
SYS-CON Media announced today that PagerDuty has launched a popular blog feed on DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done.
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that ...
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.