News and Events

December 16, 2008

CanaDream Corporation Reports Second Quarter Earnings of $4.0 million or 24 cents per share

The Company encourages interested parties to access CanaDream Corporation’s Management Discussion and Analysis (MD&A) on the SEDAR website,, for a more detailed discussion of these results.


October 31, 2008

October 31, 2007










Revenue less direct expenses




Income before income tax




Net and comprehensive income




Cash flow from operations




Basic earnings per share

 24.3 cents

 19.2 cents


Fully diluted earnings per share

 24.0 cents

 18.9 cents


Common shares outstanding




Weighted average number of common shares outstanding








Increased revenues of $1.65 million for the six months resulted from increased rental nights, utilization, and fleet sales. Direct expenses for the three months increased by $197,000 or 2% compared to last year’s $8.7 million. As the increase in revenue exceeded the increase in direct expenses this resulted in an increased gross margin for the six months of $1.5 million. Direct expenses as a percentage of revenues decreased to 45% compared with the prior year second quarter of 48%.2

Investment in rental fleet was $27.7 million at October 31, 2008, an increase of $5.9 from October 31, 2007 and an increase of $12.0 million from April 30, 2008 year-end levels. The investment in fleet inventory available for sale was $3.9 million at October 31, 2008 an increase of $188,000 from October 31, 2007.

Fleet capital asset and other financing increased $4.8 million or 22% to $26.3 million from the prior years second quarter of $21.5 million.

The Company’s short-term liquidity position (cash and cash equivalents plus accounts receivable and short term deposits, minus accounts payable and accrued liabilities) stands at $2.0 million compared to $4.1 million at October 31, 2007. The convertible debenture matures on February 27, 2008 and the principal amount of $1.46 will be re-paid at that time. The Company is continuously evaluating alternatives to meet it’s on going cash flow requirements.

It should be noted that the Company’s core business, rental of recreational vehicles, is seasonal in nature with the majority of its revenue being earned during the May to October period, its first and second quarters. The majority of the company’s direct expenses are incurred in that same period. The Company markets rental units and fleet inventory available for sale on a continuous basis throughout the year, however sales of such units are generally strongest in the spring and early summer. As a result of ongoing interest, amortization and adjustments and selling, general and administrative 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 financial data included in this release has been prepared in accordance with Canadian generally accepted accounting principles (GAAP), except for the term cash flow from operations per share. Cash flow per share is a measure that provides shareholders and potential investors with additional information regarding the Company’s liquidity and its ability to generate funds to finance its operations.

The Company encourages interested parties to access CanaDream Corporation’s MD&A on the SEDAR website,, for a more detailed discussion of these results.

CanaDream is a Canadian tourism company that is utilizing its proprietary business-to-business web-enabled system, <>, and its business-to-consumer on-line Internet reservation system, <>, to operate and expand its network of RV rental locations in Canada. CanaDream maintains six Company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax. The Company is also leveraging its proprietary technology to build a franchised network of associate dealers that are fully interconnected to CanaDream’s e-commerce systems. CanaDream currently has one associate dealer franchisee in Kelowna, British Columbia.

For further information, please contact:

Mr. Brian Gronberg, President & CEO, CanaDream Corporation
Toll Free: 800-461-7638