The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Mar 8, 2017
CALGARY, ALBERTA - CanaDream Corporation has announced record financial results for the nine months ended Jan. 31, as follows:
Revenues for the nine months ended Jan. 31 were $40.3 million, net and comprehensive income $5.7 million, and cash flow provided by operating activities $22.1 million.
The company encourages interested parties to access CanaDream Corporation's Management Discussion and Analysis on the SEDAR website, www.sedar.com, for a more detailed discussion of these results.
For the nine month period ended Jan. 31, CanaDream recorded net and comprehensive income of $5.7 million, a 7 percent increase from the prior period. Cash flow provided by operating activities of $22.1 million increased $4.8 million, or 28 percent, from the prior period. On a fully diluted basis, earnings per share were 28.9 cents which was a 6 percent increase from the prior period.
Total revenue of $40.3 million increased 15 percent - Guest revenue increased 9 percent due to increased average nightly revenue. Fleet sales revenue increased 25 percent due to a higher volume of unit sales of Guest fleet and fleet inventory. Operating expenses increased 14 percent.
At Jan. 31, investment in Guest fleet was $30.6 million, an increase of $5.3 million from April 30, 2016, due to fleet purchases of $19.4 million, a decrease in fleet disposals of $3.1 million, and a reduction of $3.1 million in transfer to fleet inventory. Fleet and other financing increased $5.6 million to $37.3 million from April 30, 2016.
The company's core business, promoting the opportunity to "experience Canada at your own pace" 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 cost of services expenses before employee compensation, benefits and depreciation are incurred in that same period. The company markets for sale previously Guest experienced recreational vehicles and fleet inventory on a continuous basis throughout the year; however, sales of such units are generally strongest from January to early summer.
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.
The financial data included in this release has been prepared in accordance with International Financial Reporting Standards, except for the term cash flow from operations per share fully diluted. 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.
CanaDream Corporation promotes Canada and the opportunity to "experience Canada at your own pace" in recreational vehicles and sells its Guest experienced recreational vehicle fleet on a wholesale and retail basis. The company is utilizing its proprietary business-to-business web-enabled system, www.canadasbest.com, and its business-to-consumer on-line internet reservation system, www.canadream.com, 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. CanaDream now offers a global RV solution by partnering with Apollo Motorhome Holidays in Australia, New Zealand and the USA. The company is also leveraging its proprietary technology to build a collective membership network of associate dealers that are fully interconnected to CanaDream's e-commerce systems. CanaDream currently has one associate dealer franchisee in Edmonton, Alberta.