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New Flyer sees orders down, deliveries up in Q4

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New Flyer Industries has reported a slightly shrunken order book and bid universe but stronger than anticipated deliveries in the fourth quarter of 2013 compared to the previous year.

New Flyer delivered 635 equivalent units (EUs) — 60-foot articulated buses represent two EUs — in the fourth quarter of 2013 an increase of 64 per cent over the fourth quarter ended December 30, 2012. The results including production of NABI Bus which New Flyer acquired in June, 2013.

At the end of 2013, New Flyer’s total backlog was 7,678 EUs compared to 9,890 EUs at the end of the third quarter of 2013.

The company said that while the bid universe reduced slightly in the fourth quarter of 2013 — 18,592 EUs compared to 19,453 EUs at the end of 2012 — management anticipates that the amount of procurement activity by public transit agencies throughout the United States and Canada will remain robust throughout 2014 based on expected customer fleet replacement plans and the expiry of current customer contracts during the next two years.

The company has pointed out often that the number of active heavy-duty transit bus procurements dropped noticeably during the financial crisis between 2008 and 2012. In order to replenish a decreasing backlog in an environment of fewer procurements, management says prices for new contracts declined dramatically.

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