CanaDream Reports Drop in Income, Sales
Canadian recreational vehicle rental firm CanaDream Corp. today (Dec. 10) announced a decline in revenues and earnings for the company’s fiscal second quarter and six months ended Oct. 31.
Revenues for the six months were $10.8 million (Canadian), down 9.4% from the previous year. Net earnings for the period were $2.1 million, representing a 17.9% decrease from last year.
For the quarter, revenues dropped 10.4% to $5.3 million and net earnings were down by 8.1% to $1.1 million.
Officials for Calgary, Alberta-based CanaDream said the reduction in revenues resulted primarily from the company's decision to lease 100 fewer trucks to transport campers and fifth wheels because of unusually high lease costs attributable to a stronger Canadian dollar.