CanaDream Sees Sales Rise 5% for Full Year
Revenue for the year was $29.3 million, increase of 5% from the previous 12 months. The Alberta-based company recorded net and comprehensive income of $1.1 million, an 86% increase from the prior year while cash flow earned from operating activities was $18 million, a 29% increase.
Total revenue increased $1.4 million as guest revenue decreased 4% and revenue from the sale of guest fleet and fleet inventory increased 19%. Operating expenses increased 2% from the prior year and finance interest was up 4%.
At April 30, investment in guest fleet and fleet inventory was $27 million, a $1.4 million decrease from the prior year. Despite the decrease in guest fleet and fleet inventory, fleet financing was $20.2 million, an increase of $123,000 from April 30, 2013.
The company noted that its core rental business 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.
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