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CanaDream Corporation Reports Record Net and Comprehensive Income of $1.1 Million

(July 18, 2012)

CALGARY, ALBERTA -- (Marketwire) -- 07/18/12 -- CanaDream Corporation (TSX VENTURE:CDN) today announced financial results for the year ended April 30, 2012, as follows:

Revenues for the year ending April 30, 2012 are $26.5 million, 6% increase from the prior year; cash flow from operating activities $14.8 million (74 cents per share) is 13% 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 year ended April 30, 2012 are as follows:


Year ended April 30, ---------------------------------------------------------------------------- 2012 2011 Change ---------------------------------------------------------------------------- Revenue $ 26,492,000 $ 24,975,000 6% Income before foreign currency forward contracts (gains)/losses, finance, and income tax expenses $ 2,512,000 $ 2,269,000 11% Income before income tax $ 1,455,000 $ 496,000 193% Net and comprehensive income $ 1,093,000 $ 308,000 255% Cash provided by operating activities $ 14,826,000 $ 13,166,000 13% Basic earnings per share 5.6 cents 1.6 cents 250% Fully diluted earnings per share 5.5 cents 1.5 cents 267% Weighted average shares outstanding 19,705,332 19,752,657 0% Weighted average diluted shares outstanding 19,926,270 20,049,305 (1)% ----------------------------------------------------------------------------

For the year ended April 30, 2012, CanaDream recorded net and comprehensive income of $1.1 million, a $785,000, or 255%, increase from the prior year net and comprehensive income of $308,000. On a fully diluted basis, earnings per share increased 4.0 cents, or 267%.

Total revenue increased $1.5 million, or 6%. Revenue from the sale of fleet and fleet inventory available for sale increased $1.3 million, or 15%; rental revenue increased $217,000, or 1%, over the prior year. Operating expenses increased $1.3 million, or 6%. As a result, operating profit of $2.5 million increased $242,000, or 11%.

At April 30, 2012, investment in rental fleet was $23.4 million, which is $1.4 million lower than the April 30, 2011 balance. The investment in fleet inventory available for sale was $6.7 million at April 30, 2012, an increase of $1.7 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 decreased $787,000, or 3%, to $23.5 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 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 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.

Contacts:
CanaDream Corporation
Mr. Brian Gronberg
President & CEO
Toll Free: 800-461-7368
BRIAN@canadream.com


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Related Keywords: CANADREAM CORPORATION , Canada, USA, Toronto, Montreal, Australia, New Zealand, Marketwire, Financial, Recreational Vehicles, Internet Technology, Business, Internet, Other,

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