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New Flyer sees orders nearly triple in Q2
New Flyer Industries' Q2 surge in order activity is mainly due to exercised options. (JOE BRYKSA / WINNIPEG FREE PRESS ARCHIVES) Photo Store
Order activity at New Flyer Industries Inc. in the quarter ending June 30, 2012 almost tripled.
The bulk of the orders — with a total value of $222.5 million compared to $77 million during the second quarter of 2011 — were exercised options.
But the bus maker’s total backlog at the end of the quarter was down 6.2 per from the end of the first quarter to 6,213 equivalent units (EUs) with a total value of $2.65 billion
However the firm order backlog was up five per cent to 1,267 EUs, after three consecutive quarter-over-quarter declines.
At the end of the period, orders for 483 new buses (613 EUs) and options for 40 buses (60 EUs) were pending and therefore not yet included in the backlog.
There were approximately 15,184 EUs in New Flyer’s new potential pipeline or bid universe for heavy-duty transit buses, up slightly from the approximately 15,100 EUs reported at the end of Q1 2012.
The company reported overall the market continues to see some positive signs with U.S. state tax collections up for the ninth consecutive quarter and bus ridership up 4.48 per cent in the first quarter of the year in the U.S. and up 4.56 per cent for all of 2011 compared to 2010 in Canada.
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