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Orders for New Flyer buses in second quarter soar from year ago, deliveries up

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(Globalpost/GlobalPost)

WINNIPEG - New Flyer Industries Inc. (TSX:NFI) received new orders for the equivalent of 513 buses, including 253 firm orders and 260 options, during the second quarter — a big increase from the same period last year.

The company, which makes transit buses at factories in Canada and the United States, received firm and option orders for only 90 equivalent units in the second quarter of 2012.

New Flyer also delivered 474 equivalent units in the second quarter ended June 30, up 33 from 441 EUs a year earlier.

The quarterly sales figures reported Monday didn not include orders acquired with New Flyer's recent purchase of North American Bus Industries, which closed near the end of June.

New Flyer says NABI Bus had a total backlog of 1,579 equivalent units including 593 firm and 986 options.

At the end of June, New Flyer's backlog decreased to 7,392 EUs down 1.8 per cent from the backlog at the end of the first quarter of this year.

New Flyer announced June 21 that it was acquiring the assets of North American Bus Industries, which has a manufacturing plant in Alabama, parts distribution centre in Ohio and a service centre in California.

http://www.globalpost.com/dispatch/news/the-canadian-press/130715/orders-new-flyer-buses-second-quarter-soar-year-ago-deliveri