RV rental firm CanaDream Corp. reported growth in revenue and net income for its six months, ended Oct. 31.
For the six-month period, CanaDream recorded net and comprehensive income of $5.6 million, a 14% increase from the prior period. Cash flow provided by operating activities totaled $14.4 million, an increase of $1.3 million, or 10%, from the prior period. On a fully diluted basis, earnings per share were 29.1 cents representing a 13% increase from the prior period.
Total revenue for the period was $24.5 million boosted by rental revenue which rose 12% due to increased guest experience nights. Fleet sales revenue grew 14% due to increased sales of guest fleet and fleet inventory available for sale. Operating expenses were up 12%.
At Oct. 31, investment in guest fleet was $28.9 million, an increase of $7.4 million from April 30, 2014, primarily due to fleet purchases of $13.6 million. Fleet and other financing increased $7.2 million to $33.8 million from April 30.
To view the full report click here.