CanaDream Corporation Reports Record Net and Comprehensive Income of $3.3 Million

CALGARY, ALBERTA--(Marketwired - July 7, 2016) - CanaDream Corporation (TSX VENTURE:CDN) today announced record financial results for the year ended April 30, 2016, as follows:

Revenues for the year ended April 30, 2016 were $43.9 million, net and comprehensive income $3.3 million, and cash flow provided by operating activities $25.8 million.

The Company encourages interested parties to access CanaDream Corporation's Management Discussion and Analysis (MD&A) on the SEDAR website, www.sedar.com, for a more detailed discussion of these results.

Summarized results for the year ended April 30, 2016 are as follows:

		Year ended April 30,
		2016	2015	Change
Revenue		$ 43,922,581	$ 34,111,259	29	%
Income before finance, other income, and income tax expenses		$ 5,048,528	$ 3,324,238	52	%
Income before other income and income tax		$ 3,410,021	$ 2,005,656	70	%
Other income		$ 933,197	$ 609,172	53	%
Net and comprehensive income		$ 3,264,169	$ 2,127,874	53	%
Cash provided by operating activities		$ 25,765,278	$ 20,162,759	28	%
Cash flow from operations per share fully-diluted		$1.33	$1.05	27	%
Basic earnings per share		16.8 cents	11.1 cents	51	%
Fully diluted earnings per share		16.8 cents	11.0 cents	53	%
Weighted average shares outstanding (000's)		19,404,940	19,176,676	1	%
Weighted average diluted shares outstanding (000's)		19,434,988	19,268,539	1	%

For the year ended April 30, 2016, CanaDream recorded net and comprehensive income of $3.3 million, a 53% increase from the prior period. Cash flow provided by operating activities of $25.8 million increased $5.6 million, or 28%, from the prior period. On a fully diluted basis, earnings per share were 16.8 cents which was a 53% increase from the prior period.

Total revenue of $43.9 million increased 29% - Guest revenue increased 18% due to increased Guest experience nights combined with higher average nightly rates and fleet sales revenue increased 42% due to increased sales of Guest fleet and fleet inventory combined with higher average selling prices. Operating expenses increased 26%.

At April 30, 2016, investment in Guest fleet was $25.3 million, an increase of $3.8 million from April 30, 2015, due to an increase in $6.8 million in fleet purchases, an increase in fleet disposals of $3.2 million, and a reduction of $0.7 million in transfer to fleet inventory. Fleet and other financing increased $0.6 million to $31.6 million from April 30, 2015.

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. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.