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CanaDream Sees Sales Rise 5% for Full Year

July 11, 2014 by · Leave a Comment 

    RV rental firm CanaDream Corp. today (July 11) announced financial results for the year, ended April 30.

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.

For the full report click here.

 

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CanaDream Sees 19% Income Gain for 9 Months

March 21, 2014 by · Leave a Comment 

RV rental firm CanaDream Corp. reported an increase in net income and revenue for the nine months ended Jan. 31.

CanaDream recorded net income of $3.1 million during the period, a 19% increase from the prior year. Cash flow provided by operating activities was $12.8 million, a 21% year-over-year increase, while earnings per diluted share grew 23% to 16 cents.

Total revenue increased $427,000, or 2%, for the nine months. Fleet sales increased 15% due to a larger number of units sold, with a corresponding increase in cost of services of 10%. Guest revenue decreased 3% due to decreased guest experience nights. Guest cost of services before employee compensation and benefits decreased 11% and employee compensation and benefits decreased 5%.

Investment in guest fleet increased $932,000 from April 30, 2013, levels to $23.9 million, primarily due to fleet purchases in the first quarter of $12.2 million combined with a transfer to fleet inventory available for sale of $5.4 million.

Fleet and other financing increased $8.8 million from April 30, 2013, due to financing relating to the purchase of new fleet combined with the purchase of the Vancouver property and land in Balzac, Alberta.

To view the full report click here.

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CanaDream Reports 4% Gain in 6-Month Income

December 12, 2013 by · Leave a Comment 

Canadian RV rental firm CanaDream Corp. recorded marginal gains in earning and sales during its fiscal six-month period, ended Oct. 31.

Net income totaled $4.9 million, representing a 4% increase from the year prior, while diluted earnings per share rose 8% to 26 cents.

Total revenue increased 5% to $954,000 from a year ago. Fleet sales increased 37% due to increased sales of guest fleet and fleet inventory available for sale. The company noted that as a result of increased fleet sales revenue, cost of services increased proportionately. Guest revenue decreased 4% due to decreased guest experience nights and guest cost of services before employee compensation and benefits decreased 8% and employee compensation and benefits decreased 10%.

CanaDream said that fleet and other financing increased $11.5 million from April 30 to Oct. 31 due to financing relating to the purchase of new fleet combined with the purchase of the Vancouver property and land in Balzac, Alberta.

The company’s core 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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CanaDream’s Year-end Sales Rise, Profits Fall

July 13, 2013 by · Leave a Comment 

RV rental firm CanaDream Corp. reported a slight uptick in revenue for its full year, ended April 30, while net income declined 44%.

Revenue for the year was $27.9 million, an increase of $1.4 million from the year prior. CanaDream reported that rental revenue increased 3% while revenue from the sale of guest fleet and fleet inventory available for sale grew 9%. Operating expenses increased 8% from the prior year and finance interest decreased 7%.

CanaDream recorded net and comprehensive income of $608,000, a 44% decrease from the prior year. Cash flow earned from operating activities was $13.9 million, a 6% decrease.

At April 30, investment in guest fleet and fleet inventory available for sale was $28.6 million, a $1.5 million decrease from the prior year, due to fleet purchases less unit sales and guest fleet transferred to fleet inventory available for sale and depreciation. As a result of a decrease in guest fleet and fleet inventory available for sale, fleet financing was $20.1 million, a decrease of $1.8 million from April 30, 2012.

The company’s core 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. The majority of the company’s cost of services expenses before employee compensation, benefits and depreciation are incurred in that same period.

CanaDream noted that 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.

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CanaDream Utilizes RV|ID to Track Rental Fleet

August 8, 2012 by · Leave a Comment 

Keeping tabs on its fleet of more than 800 rental RVs valued in the millions was a challenge for Calgary-based CanaDream Corp., one of the largest RV rental companies in Canada.

According to a press release, that situation improved when the company began using RV|ID, an RV-specific GPS-based tracking solution developed by Red Lantern Labs. To date, CanaDream is using RV|ID in over 90% of its rental fleet.

“We initially wanted the service for asset recovery,” said Brian Gronberg, CanaDream’s president. “We value knowing where our RVs are, where they went, where they stopped, and if they are moved without authorization. In the event of an accident or theft, it’s critical that the RV’s location be pinpointed in real time and that law enforcement be notified.”

Gronberg noted that the system also sends alerts when RVs are being driven excessive miles and has a virtual odometer that tracks mileage independently of the vehicle’s odometer to help combat odometer fraud. “Having that information handy has eliminated any disputes with customers who might argue about the distance they drove in one of our RVs,” said Gronberg.

Gronberg said he is planning to add Red Lantern Labs’ Smart RV safety and social networking tool to the CanaDream Club, an exclusive travel services and rewards program offered to CanaDream guests and customer.

“We’re a service-oriented company and want our guests and customers to have a safe and rewarding RVing experience as they explore the country,” said Gronberg. “We can monitor our guests’ trips and provide safety alerts, such as low battery, as well as make suggestions to enhance their enjoyment of Canada.”

To learn more about RV|ID, visit www.rv-id.com.

 

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CanaDream Posts Increased Sales for 9 Months

March 16, 2012 by · Leave a Comment 

Canadian RV rental firm CanaDream Corp. reported an 8% increase in sales for the nine months ending Jan. 31.

Revenues for the nine months were $22.8 million while cash flow from operations of $10.3 million (52 cents per share) is 15% higher than the prior period.

CanaDream recorded operating profit of $4.9 million during the period. Net and comprehensive income was $3.1 million, a 16% increase from the prior period of $2.6 million. On a fully diluted basis, earnings per share increased 2.2 cents, or 17%.

Fleet sales revenue increased $1.4 million, or 30%, and rental revenue increased 2% to $291,000 over the prior period. Operating expenses increased 10% to $1.6 million and, as a result, operating profit of $4.9 million rose 4% to $175,000.

As of Jan. 31, investment in rental fleet was $24.8 million.

To view the entire report click here.

 

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CanaDream Corp. Debuting Multilingual Website

January 5, 2012 by · Leave a Comment 

Canadian RV rental firm CanaDream Corp. has partnered with Smartling to offer French and German versions of its website and online reservation system.

Using Smartling’s software platform, CanaDream said it can better service its European customers, including travelers from Germany, Switzerland, Austria and France

“Our business is hosting guests from all over the world to experience and explore Canada at their own pace. So it’s critical that we offer our visitors the ability to work with us in their own language,” said Brian Gronberg, president and CEO of Calgary, Alberta-based CanaDream. “Smartling helped us launch the first two languages quickly, including both technology and translation work; we’ve already seen an impressive amount of traffic to the German site since go-live.”

Smartling provides a cloud-based platform allowing clients to easily localize their websites and applications. Smartling hosts and delivers the new language sites, so CanaDream can focus on the original-language web infrastructure.

“Launching CanaDream’s French and German websites was a labor of love for Smartling,” said Mark Elkin, vice president, client services, for Smartling. “Many of us know and enjoy the natural beauty of Canada, so we are proud to help French and German speakers discover it as well.”

 

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CanaDream Posts Rise in 6-Month Sales, Profits

December 8, 2011 by · Leave a Comment 

Calgary, Alberta, Canada-based RV rental firm CanaDream Corp. today (Dec. 8) reported  increases in sales and net income for the six months, ended Oct. 31.

Revenues for the period were $20.9 million, 6% higher than the prior year. CanaDream recorded operating profit of $7.5 million while net income was $5.2 million, representing a 10% increase from the year prior period of $4.7 million. On a fully diluted basis, earnings per share increased 2.5 cents, or 11%.

Fleet sales revenue increased $943,000, or 26%; rental revenue increased $277,000, or 2%, over the prior period; and operating expenses increased $1.0 million, or 8%. As a result, operating profit of $7.5 million increased $196,000, or 3%.

As of Oct. 31 investment in rental fleet was $32.3 million, an increase of $7.5 million from April 30, primarily due to fleet purchases in the first quarter of $10.8 million. The investment in fleet inventory available for sale was $3.0 million at Oct. 31, 2011, a decrease of $2.0 million from April 30 year-end levels due to unit sales. Fleet and other financing increased $3.9 million, or 16%, to $28.2 million from April 30.

The company noted that its core business, promoting tourism in Canada 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 direct expenses are incurred in that same period.

To view the entire report click here.

 

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CanaDream Motors to 21% Jump in 1Q Profits

October 13, 2011 by · Leave a Comment 

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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CanaDream Posts 12% Rise in Year-end Sales

July 22, 2011 by · Leave a Comment 

Canadian RV rental firm CanaDream Corp. today (July 22) announced financial results for the year ending April 30.

Revenues for the year of $25.0 million is 12% higher than last year, while cash flow from operations of $7.2 million (36 cents per share) is 43% higher. Operating income of $901,000 represents a 98% increase from the previous year.

The Calgary-based company said that rental revenue increased $2.1 million due to increased rental nights combined with a $605,000 increase in fleet sales revenue. The increase in revenues, combined with the $657,000 increase in direct expenses. resulted in the gross margin increase of $2.0 million, or 22%.

Investment in rental fleet was $24.8 million at April 30, an increase of $6.9 million from 2010. The investment in fleet inventory available for sale was $5.0 million, a decrease of $215,000 from 2010 year-end levels. Fleet, capital asset and other financing increased $6.3 million, or 35%, to $24.3 million from the year prior.

The company’s short-term liquidity position (cash and cash equivalents plus accounts receivable and short term deposits, minus accounts payable and accrued liabilities) at April 30 was $821,000 compared to $760,000 last year.

 

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RV Rental Firm CanaDream Creates iPad App

July 21, 2011 by · Leave a Comment 

Calgary-based CanaDream Corp. has been renting out recreational vehicles for more than 15 years, with locations in six provinces and territories. Although there are various high-tech aspects to the company’s business, including the software it uses for booking and reservations, it was a recent digital endeavor that got customers buzzing – an iPad app.

The Globe and Mail, Toronto, reported that six years ago, CanaDream began working on a project to develop a GPS-based tool that would offer RV users access to nearby points of interest, CEO Brian Gronberg says. CanaDream initially designed the software for GPS navigational units, which at the time were still growing in popularity. But that all changed in 2010.

“We were all set to launch (the software) a year ago on GPS screens,” Gronberg explains. “And then they announced the iPad, and we went ‘stop’ – the technology has caught up with the idea.”

The company quickly reworked the software for the larger tablet screen, and it soon signed deals with its carrier partners to give RV customers access to data through cellular or Wi-Fi connections, making the CanaDream app accessible on the road.

The idea is simple. The app essentially picks up a user’s location and offers information about nearby points of interest such as camping sites. The almost 3,000 options are collected from CanaDream’s 700 or so partners. In addition, customers get access to special discounts from those partners.

Just as they rent RVs, customers can now also rent iPads from CanaDream, or bring their own and download the app from the company’s website or on Apple’s iTunes store. A version of the app is publicly available for anyone to use, but only the RV rental customers get access to the discounts feature.

The explosive growth of consumer tablets has proven to be a boon for many small businesses, from restaurants that now use them as menus, to traveling salespeople who can do video displays of their products on the spot. Unlike major technological investments, tablet apps often cost relatively little, and they are easily distributed through various app stores.

But there’s another advantage. Unlike the somewhat more fragmented smart phone market, the tablet industry is still essentially a one-device arena. Because Apple’s iPad still dominates sales, small and medium-sized businesses can usually get away with designing an app specifically for that device, rather than paying extra for a presence on multiple platforms.

For now, Gronberg says CanaDream is focusing on adding more destinations and discounts to the app, in the hopes that the location-specific information and discounts it provides RV users will distinguish it from the competition.

“Yes there’s all kinds of guidebooks out there,” he says, “but sifting through it all to make the information applicable is always a very tedious job.”

 

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CanaDream Reports Record May-July Quarter

September 20, 2010 by · Leave a Comment 

Recreational vehicle operator CanaDream Corp. has posted its strongest first-quarter profit ever, despite a 6% decline in revenue.

The tourism company earned $2.1 million or 10.6 cents a share in the May-July period compared with $1.9 million or 11.8 cents a share in the same quarter last year, Canada Business reported.

CanaDream saw its revenue drop to $9.6 million from $10.2 million, due to a decrease in fleet sales which was offset by an increase in rental revenue.

The recently concluded quarter is one of its busiest periods due to increased travel in the spring and summer. Since the business is seasonal in nature, the majority of its direct expenses are incurred in that period.

The company had cash and cash equivalents plus accounts receivables and short-term deposits of $5.9 million, a significant improvement from $760,000 at the end of April.

CanaDream operates in Vancouver, British Columbia, Whitehorse, Yukon Territory, Calgary, Alberta, Toronto, Ontario, Montreal, Quebec, and Halifax, Nova Scotia. It has a partnership with Apollo Motorhomes in Australia, New Zealand and the United States.

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CanaDream’s First-Half Sales Fall 5% from 2008

December 10, 2009 by · Leave a Comment 

CanaDream Corp. today (Dec. 10) announced financial results for the six months ended Oct. 31.

Revenues of $18.8 million were 5% lower than last year, cash flow from operations of $7 million (37 cents per share) was 8% lower than last year and net income and comprehensive income of $3.7 million was 7% lower than last year, according to a news release.

CanaDream is a Canadian tourism company that maintains six company-operated RV rental locations in Calgary, Alberta, Vancouver, British Columbia,  Whitehorse, Yukon Territory, Toronto, Ontario, Montreal, Quebec, and and Halifax Nova Scotia. The company also has two dealer franchisees in Kelowna, British Columbia, and Edmonton, Alberta.

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Forest River Inc. Allies with RV Rental Firms

December 1, 2009 by · Leave a Comment 

Forest River Inc. logoForest River Inc., Canada-based CanaDream Corp. and Australia-based Apollo Motorhomes announced Monday (Nov. 30) the emergence of AmeriDream — an RV rental venture positioned to capture significant market share and further promote the growth of RV tourism in the U.S.

“The venture provides an enormous benefit to our dealers and travelers here and abroad,” said Peter Liegl, Forest River president and CEO, in a news release. “Dealers within our network will be able to better manage their domestic booking and gain exposure to the lucrative international market virtually overnight. AmeriDream dealers will be able to seamlessly integrate the advanced systems and access the extensive international wholesale network behind the continual growth of CanaDream.”

Brian Gronberg, president and CEO of CanaDream Corp., said, “Being able to take advantage of the rapid growth of international RV travelers coming to America is the only way to maximize both utilization and nightly rates. Our systems, networks and Internet strategy will make AmeriDream the preferred RV vendor for the international audience.”

According to a study by Ypartnership titled “National Travel MONITOR,” 66% of U.S. leisure travelers now use the Internet to plan some aspect of their travel (versus 35% in 2000).

Industry forecasts indicate Forest River’s entrance into the RV rental market is opportune. In what is considered to be a down market, the Recreational Vehicle Rental Association (RVRA), reports rental activity will be up 12% this year.

AmeriDream enters a market dominated by Cruise America and El Monte RV. 

Forest River is a leading manufacturer of leisure vehicles in the United States, based in Elkhart, Ind. Founded in 1996 by Liegl, it has grown into a company of 5,500 employees and 71 facilities throughout the nation. In 2005, the company was acquired by Berkshire Hathaway Inc. Berkshire Hathaway is headquartered in Omaha, Neb.

CanaDream is one of the largest RV rental companies in Canada. The company operates a fleet of approximately 700 units from nine gateway cities across the nation. CanaDream’s leadership position has been achieved through a combination of substantial investments in proprietary technology related to its operations, its extensive international wholesale network and the upgrading and maintenance of its rental fleet. CanaDream is publicly traded (symbol: CDN) on the Canadian Venture Exchange.

Apollo is the largest privately owned leisure vehicle operator in the Southern Hemisphere with a fleet of over 3,000 vehicles and 300 employees. It has 10 branches in Australia, two in New Zealand and three in the U.S.

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CanaDream Notes Decline in RV Rental Revenue

September 11, 2009 by · Leave a Comment 

CanaDream Corp. today (Sept. 11) reported financial results for the three months ended July 31.

The Calgary, Alberta-based RV rental chain reported income before income tax of $2.8 million for the three months was 7% lower than last year. Revenues for the three months of $10.2 million is 6% lower than last year, while cash flow from operations of $7.8 million  is in line with last year.

Income before income taxes of $2.8 million decreased $224,000 or 7% from the prior year first quarter. 

Decreased revenues of $645,000 is due in part from a 16% decline in fleet and available rental nights resulting in an 11% reduction in booked rental nights.

Direct expenses for the three months decreased by $78,000 or 2% compared to last year’s $5.2 million. As the decrease in revenues exceeded the decrease in direct expenses the gross margin decreased $566,000 or 10%.

Investment in rental fleet was $26.8 million at July 31, a decrease $1.9 million from July 31, 2008 and an increase of $2.0 million from April 30, 2009, year-end levels. The investment in fleet inventory available for sale was $1.3 million at July 31, a decrease of $3.6 million from July 31, 2008 and $1.4 million from April 30, 2009 year-end levels.

Fleet capital asset and other financing decreased $6.0 million or 21% to $23.3 million from the prior year’s first quarter of $29.4 million.

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 sold a minority share in its business earlier this month to Apollo Motorhomes, an Australian RV rental firm which also conducts business in New Zealand and the U.S.

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