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CanaDream Motors to 21% Jump in 1Q Profits

CanaDream Corp. posted double-digit increases in both revenue and profits in its fiscal 2011 first-quarter, the renter of recreational vehicles said today.

The Alberta-based company, which also sells its used fleet vehicles into both the wholesale and retail markets, reported net income of $2.6 million or 13 cents per share for the three months ended July 31.

That represented a more than 20% increase over the $2.1 million or 10.6 cents per share it earned in the same 2010 quarter.

Revenue was $10.8 million, up 12% from $9.6 million in the prior-year period.

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