RV rental firm CanaDream Corp. announced record financial results for its nine months, ended Jan. 31.
During the period, CanaDream recorded net and comprehensive income of $5.7 million, a 7% increase from the prior period. Cash flow provided by operating activities of $22.1 million increased $4.8 million, or 28%, from a year ago. On a fully diluted basis, earnings per share were 28.9 cents, representing a 6% year-over-year increase.
Total revenue grew 15% to $40.3 including a guest revenue increase of 9% due to increased average nightly revenue. Fleet sales sales increased 25% on a higher volume of unit sales of guest fleet and fleet inventory. Operating expenses increased 14%.
At Jan. 31, investment in guest fleet was $30.6 million, an increase of $5.3 million from April 30, 2016, due to fleet purchases of $19.4 million, a decrease in fleet disposals of $3.1 million, and a reduction of $3.1 million in transfer to fleet inventory. Fleet and other financing increased $5.6 million to $37.3 million from April 30, 2016.