August 10, 2007 17:23 ET

CanaDream Corporation Reports Financial Results for Fiscal 2007

CALGARY, ALBERTA--(Marketwire - Aug. 10, 2007) - CanaDream Corporation (TSX VENTURE:CDN) (TSX VENTURE:CDN.DB) (TSX VENTURE:CDN.DB.A) today announced financial results for the year ended April 30, 2007, as follows:

Revenues were $13.7 million, up 5% from last year, Cash Flow from Operations was $5.70 million ($0.34 per share), up 35% from last year and Net Income was $16,421, $0.001 per share, compared to Net Loss of ($241,000), ($0.015) per share last year.

For the three months ended April 30, 2007, Revenues of $309,000 increased from $227,000 from last year. Additionally the loss before taxes decreased $415,000 to $1.81 million from $2.22 million last year. Cash flow from operations was $5.75 million, up $1.51 million from last years $4.24 million.

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

Summarized results for the year ended April 30, 2007 are as follows:

2007 2006 Change
----------- ----------- --------

Revenue $13,654,600 $13,138,924 5 %

Revenue Less Direct Expenses $ 8,530,820 $ 7,910,014 8 %

Earnings (Loss) Before Tax $ (94,944) $ (364,299)

Net Earnings (Loss) $ 16,421 $ (241,299)

Basic Earnings (Loss) per share 0.10 cents (1.5) cents

Fully Diluted Earnings (Loss) per share 0.10 cents (1.4) cents
Common Shares outstanding at April 30 16,556,042 16,606,042 (0.6)%
Weighted Average number of
Common Shares outstanding 16,570,563 16,949,569 (2.3)%

It should be noted that 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 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. Cash flow from operations as presented does not have any standardized meaning under Canadian GAAP and therefore, it may not be comparable with the calculation of similar measures for other entities. Cash flow from operations has been presented for information purposes only, and should not be considered an alternative to, or more meaningful than, cash flow from operating activities, as determined in accordance with GAAP. All references to cash flow from operations in this release are based on cash flow before changes in non-cash working capital.

CanaDream is a Canadian tourism company that 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. The Company is also leveraging its proprietary technology to build a franchised network of associate dealers that are fully interconnected to CanaDream's e-commerce systems. CanaDream currently has three associate dealer franchisees in Edmonton Alberta, and Kelowna and Victoria, British Columbia.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information