CanaDream Corp -
CanaDream six-month results
CanaDream Corp
CDN
Shares issued 16,907,000
1999-12-15 close $0.6
Thursday Dec 16 1999
An anonymous director reports
Financial results for the three and six months ended Oct. 31, 1999, were as
follows:
CanaDream had first quarter income of $1,860,519 or 11 cents per share up from
$1,129,286 for the same three-month period of 1998.
HIGHLIGHTS
Three months ended Oct. 31
1999 1998
Revenue $4,839,375 $4,059,741
Net income 1,860,519 1,129,286
Earnings per
share 11 cents n/a
HIGHLIGHTS
Six months ended Oct. 31
1999 1998
Revenue $9,914,357 $7,755,574
Net income 3,591,482 1,264,286
Earnings per
share 21 cents n/a
Comparison with the same six-month period of 1998
Revenue increased by 28 per cent.
Direct expenses decreased by 20 per cent.
Administrative expenses increased by 14 per cent.
Sales and marketing expenses increased by 39 per cent.
Capital stock outstanding is 16,907,500 common shares.
The success of CanaDream stems from management's commitment to increase
sales while at the same time, increase productivity and thus reduce expenses.
Revenue has increased 28 per cent although the fleet size was increased only 15
per cent. To this end the company has continued to improve its two proprietary
software programs, CDream and CORA, and will continue developing Mcflight
International, a joint venture with Mcflight GmbH of Germany which will allow
CanaDream to expand its international reservation capabilities for all tourism
products.
CDream is a reservation, management and inventory control system, which has the
capability to be adapted for most travel products.
CORA is an Internet-based, real-time booking system, which is designed to
interface with CDream and other reservation and inventory control software
products.
McFlight International is an Internet-based booking system that connects to all
major airlines and CRS systems. It allows real-time bookings of airline seats and
other travel products and is part of the company's program of agreements with
firms in the tourism business.
All three products will continuously be updated, with the potential of additional
revenue being generated for CanaDream through the sale and licensing of this
software to other firms.
WARNING: The company relies upon litigation protection for "forward-looking"
statements.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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