CanaDream Corporation Reports Record First Quarter Net and Comprehensive Income of $2.8 million

CALGARY, ALBERTA--(Marketwired - Sept. 18, 2014) - CanaDream Corporation (TSX VENTURE:CDN) today announced financial results for the three months ended July 31, 2014, as follows:

Revenues for the three months ended July 31, 2014 were $12.5 million, net and comprehensive income $2.8 million, and cash flow provided by operating activities $12.3 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 three months ended July 31, 2014 are as follows:

	Three months ended July 31,
(000's except per share amounts)		2014		2013	Change
Revenue	$	12,464	$	11,143	12	%
Income before finance, and income tax expenses	$	4,136	$	3,407	22	%
Income before income taxes	$	3,778	$	3,052	24	%
Net and comprehensive income	$	2,795	$	2,258	24	%
Cash provided by operating activities	$	12,327	$	10,580	16	%
Basic earnings per share		14.6 cents		12.0 cents	22	%
Fully diluted earnings per share		14.5 cents		11.9 cents	22	%
Weighted average shares outstanding (000's)		19,199		18,865	2	%
Weighted average diluted shares outstanding (000's)		19,260		19,049	1	%

For the three month period ended July 31, 2014, CanaDream recorded net and comprehensive income of $2.8 million, a 24% increase from the prior period. Cash flow provided by operating activities of $12.3 million increased $1.7 million, or 16%, from the prior period. On a fully diluted basis, earnings per share were 14.5 cents which was a 22% increase from the prior period.

Total revenue of $12.5 million increased 12% - rental revenue increased 10% due to increased guest experience nights and fleet sales revenue increased 17% due to increased sales of guest fleet and fleet inventory available for sale. Operating expenses increased 8%.

At July 31, 2014, investment in guest fleet was $34.1 million, an increase of $12.7 million from April 30, 2014, primarily due to fleet purchases in the first quarter of $13.7 million. Fleet and other financing increased $10.5 million to $37.1 million from April 30, 2014.

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 available for sale 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 Accounting Standard ("IAS") 34, Interim Financial Reporting, 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.