New business acquisitions and a generally stronger market has boosted revenue at Winnipeg bus-maker New Flyer Industries by 30 per cent for the second quarter.
The company announced revenue of $346.5 million on a 19 per cent increase in deliveries and a 57.1 per cent increase in aftermarket revenue.
Net earnings were $3.6 million in the quarter compared to $1.7 million for the same period last year and earnings per share doubled to six cents compared to last year.
Consolidated adjusted EBITDA of $27.0 million increased by 49.3 per cent over last year’s second quarter results.
Bus revenue was up 23.5 per cent which was aided by a 3.8 per cent increase in average selling price. The increase in average selling price is the result of changes in the product sales mix, which included more sales of hybrid buses and fewer articulated buses.
At noon the company shares were up 14 cents to $13.03.