RV Rental firm CanaDream Corp., Calgary, Alberta, Canada, announced an increase in net loss for its third quarter and a decline in earnings and revenues for the nine months ended Jan. 31.
For the quarter, revenues of $96,000 (Canadian) were comparable to last year while the company reported that its net loss increased by 6.7% to $1.7 million compared to a net loss of $1.3 million the year prior.
CanaDream attributed the loss to a 19% increase in expenses for the three-month period.
Revenues for the nine months declined 10.2% to $10.92 million and net income was $903,000, down 46.6% from the previous year.
The company noted that its core RV rental business is seasonal in nature, with the majority of its revenue being earned during the first two quarters from May to October period.