Canadian RV rental firm CanaDream Corp. incurred a wider net loss on a 10% increase in sales during its third quarter, ended Jan. 31.
The Calgary, Alberta-based company reported third-quarter revenues of $107,000 (Canadian) compared with $96,511 the previous year, and a net loss of nearly $1.5 million versus a net loss of $1.16 million.
The company emphasized the seasonal nature of the RV rental business, noting, “the majority of its rental revenues and direct expenses occur during the May to October period, the first and second quarters of its fiscal year.”
For the nine months, CanaDream posted revenues of $12.9 million, up 18.3% from $10.9 million the previous year. Net income during the period rose 35.7% to $1.2 million compared with $889,002 a year prior.
CanaDream said that increased revenues for the nine months resulted from higher levels of rental fleet, coupled with better utilization and pricing.