Calgary, Alberta-based CanaDream Corp. today (Dec. 8) announced financial results for the six months ending Oct. 31.

Revenues for the six months were $20.9 million, 6% higher than the prior period; cash flow from operations of $11.0 million (55 cents per share) is 7% higher than the prior period.

For the six months, CanaDream recorded operating profit of $7.5 million. Net and comprehensive income was $5.2 million, a $466,000, or 10%, increase from the prior period of $4.7 million. On a fully diluted basis, earnings per share increased 2.5 cents, or 11%.

Total revenue increased $1.2 million, or 6%. Fleet sales revenue increased $943,000, or 26%; rental revenue increased $277,000, or 2%, over the prior period. Operating expenses increased $1.0 million, or 8%. As a result, operating profit of $7.5 million increased $196,000, or 3%.

At Oct. 31, investment in rental fleet was $32.3 million, an increase of $7.5 million from April 30, 2011, primarily due to fleet purchases in the first quarter of $10.8 million. The investment in fleet inventory available for sale was $3.0 million at Oct. 31, a decrease of $2.0 million from April 30, 2011, year-end levels due to unit sales. Fleet and other financing increased $3.9 million, or 16%, to $28.2 million from April 30, 2011.

The company’s core business, promoting tourism in Canada 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 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 company encourages interested parties to access CanaDream Corp’s Management Discussion and Analysis (MD&A) on the SEDAR website, www.sedar.com, for a more detailed discussion of these results.