CanaDream Reports Income, Revenue Surge in Summer Months

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CanaDream Corp. reported strong income increase in the six-month period prior to November.

Revenues for the six months ended October 31, 2016 were $34.8 million, net and comprehensive income $8.4 million, and cash flow provided by operating activities $21.1 million.

During the six-month period, CanaDream recorded net and comprehensive income of $8.4 million, a 7 percent increase from the prior period. Cash flow provided by operating activities of $21.1 million increased $5.3 million, or 33 percent, from the prior period.

Total revenue of $34.8 million increased 17 percent, and guest revenue increased 10 percent due to increased average nightly revenue. Fleet sales revenue increased 33 percent due to a higher volume of unit sales of guest fleet and fleet inventory. Operating expenses increased 20 percent.

Investment in guest fleet was $34.6 million, an increase of $9.3 million from April 30, due to fleet purchases of $19.4 million, a decrease in fleet disposals of $2.6 million, and a reduction of $500,000 in transfer to fleet inventory. Fleet and other financing increased $9.4 million to $41 million from April 30.

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