CanaDream Corporation Reports Third Quarter Earnings to Date of $3.1 Million

CALGARY, ALBERTA--(Marketwire - March 15, 2012) - CanaDream Corporation (TSX VENTURE:CDN) today announced financial results for the nine months ending January 31, 2012, as follows:

Revenues for the nine months ending January 31, 2012 are $22.8 million, 8% higher than the prior period; cash flow from operations of $10.3 million (52 cents per share) is 15% higher than the prior period.

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 nine months ended January 31, 2012 are as follows:

		Nine months ending January 31,
		2012		2011	Change
Revenue	$	22,833,000	$	21,094,000	8	%
Operating profit	$	4,899,000	$	4,724,000	4	%
Income before income tax	$	4,165,000	$	3,586,000	16	%
Net and comprehensive income	$	3,074,000	$	2,643,000	16	%
Cash provided by operating activity	$	10,348,000	$	9,033,000	15	%
Operating profit per share		24.8 cents		23.9 cents	4	%
Basic earnings per share		15.6 cents		13.4 cents	16	%
Fully diluted earnings per share		15.4 cents		13.2 cents	17	%
Weighted average shares outstanding		19,732,271		19,752,657	0	%
Weighted average diluted shares outstanding		19,976,534		20,063,290	0	%

For the nine months ending January 31, 2012, CanaDream recorded operating profit of $4.9 million. Net and comprehensive income was $3.1 million, a $431,000, or 16%, increase from the prior period of $2.6 million. On a fully diluted basis, earnings per share increased 2.2 cents, or 17%.

Total revenue increased $1.7 million, or 8%. Fleet sales revenue increased $1.4 million, or 30%; rental revenue increased $291,000, or 2%, over the prior period. Operating expenses increased $1.6 million, or 10%. As a result, operating profit of $4.9 million increased $175,000, or 4%.

At January 31, 2012, investment in rental fleet was $24.8 million, which is inline with the April 30, 2011. The investment in fleet inventory available for sale was $8.4 million at January 31, 2012, an increase of $3.4 million from April 30, 2011 year-end levels due to unit sales and a transfer of rental fleet to fleet inventory available for sale. Fleet and other financing increased $2.3 million, or 9%, to $26.6 million from April 30, 2011.

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 direct expenses 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 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 International Financial Reporting Standard 34 Interim Financial Reporting (IAS 34) and IFRS 1 as issued by the International Accounting Standards Board (IASB), except for the term cash flow for 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.