Blue Bird Corporation announced positive outcomes for its fiscal 2016 fourth quarter and full-year results as net sales and gross profit both increased over 2015.
The school bus manufactured reported net sales of $932 million, up almost $13 million more than fiscal year 2015 due to an 238-unit boost in bus sales. For the fourth quarter, net sales totaled $286.4 million.
Among other highlights Blue Bird released on Tuesday, the company said its overall unit sales increased 2 percent to 10,616 vehicles. Of those, propane-powered bus sales accounted for 33 percent, which is an increase from last year.
The company revealed that its full-year income from continuing operations was down $7.8 million from the same period last year, which Blue Bird said was reflected in a decrease in operating profit of $9.2 million. But the company added that it was well positioned for continued growth for the upcoming fiscal year.
“Overall, we had a great year at Blue Bird,” said Blue Bird Corporation President and CEO Phil Horlock in a statement. “Our propane-powered bus offering continues to be the undisputed leader in alternative fuels with sales up 33 percent over the prior year.”
Horlock added that the company shipped 406 new gasoline-powered Vision school buses in September, following an unexpected delay in CARB certification.
“Overcoming this obstacle was a testament to our strong relationship with the Ford Motor Company and Roush CleanTech,” he said. “With the broadest product range and engine choice in the industry, we are well-positioned for growth next year.”
- Daimler Trucks North America Celebrates a Century of Innovation
- NEXEDGE Radio Improves Student Safety, Security
- Tyler Technologies Purchases Building for its Transportation Group in Latham, N.Y.
- Blue Bird Awarded $4.4 Million to Develop Electric School Bus
- Navistar Announces Intention to Reprice Approximately $1.0 Billion Senior Secured Term Loan