CALGARY, ALBERTA--(Marketwire - July 22, 2011) - CanaDream Corporation (TSX VENTURE:CDN) ("CanaDream" or the "Company") today announced financial results for the year ending April 30, 2011, as follows:

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

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

Summarized results for the year ended April 30, 2011 are as follows:

Year ending April 30 ,
2011 2010 Change
Revenue $ 24,975,000 $ 22,300,000 12 %
Revenue less direct expenses $ 11,332,000 $ 9,314,000 22 %
Operating income $ 901,000 $ 454,000 98 %
Unrealized foreign exchange losses (gains) $ 383,000 ($60,000 ) (738 %)
Income before income tax $ 518,000 $ 513,000 1 %
Net and comprehensive income $ 324,000 $ 326,000 (1 %)
Cash provided by operating activity $ 7,211,000 $ 5,029,000 43 %
Operating income per share 4.56 cents 2.43 cents 88 %
Basic earnings per share 1.64 cents 1.75 cents (6 %)
Fully diluted earnings per share 1.62 cents 1.70 cents (5 %)
Common shares outstanding 19,752,657 19,752,657 0 %
Weighted average number of common shares outstanding 19,752,657 18,640,112 6 %

For the year ended April 30, 2011, CanaDream recorded operating income of $901,000, an increase of $447,000 from the prior year end; the operating income per share increased 2.13 cents, or 88%. Income before income taxes of $518,000 increased $5,000, or 1%, from the prior year; on a fully diluted basis, earning per share decreased 0.08 cents, or 5%.

Revenues increased $2.7 million, or 12%. 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, 2011, an increase of $6.9 million from April 30, 2010. The investment in fleet inventory available for sale was $5.0 million at April 30, 2011, a decrease of $215,000 from April 30, 2010 year-end levels. Fleet, capital asset and other financing increased $6.3 million, or 35%, to $24.3 million from April 30, 2010.

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, 2011 was $821,000 compared to $760,000 at April 30, 2010.

The Company's 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. The Company markets rental units and fleet inventory available for sale on a continuous basis throughout the year, however sales of such units are generally strongest in the spring and early summer. As a result of ongoing interest, amortization and adjustments and selling, general and administrative 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 Canadian generally accepted accounting principles (GAAP), 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 it's used recreational vehicle fleet on a wholesale and retail basis. The Company is utilizing its proprietary business-to-business web-enabled system,, and its business-to-consumer on-line Internet reservation system,, 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 two associate dealer franchisees in Kelowna, British Columbia and 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.

Contact Information:

CanaDream Corporation
Mr. Brian Gronberg
President & CEO
Toll Free: 800-461-7368