CanaDream Corp. today (July 9) announced record financial results for the year ended April 30.

A leading Canadian RV rental firm, CanaDream reported revenues for the year increased 17% to $34.1 millon, net and comprehensive income gained 88% to $2.1 million, while cash flow provided by operating activities was $20.2 million.

At April 30, investment in guest fleet was $21.5 million, a decrease of $49,000 from April 30, 2014, due to fleet purchases of $13.6 million, an increase in fleet disposals of $2.3 million, and a reduction of $2.3 million in transfer to fleet inventory. Fleet and other financing increased $4.4 million to $31.0 million from April 30, 2014.

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 used recreational vehicles and fleet inventory 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 company said.

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