Blue Bird Corporation (NASDAQ: BLBD), the most important independent designer and maker of school buses, declared its fiscal 2017 complete year and 4th-quarter results.
4th-Quarter 2017 Results:
Net Sales:
Total net sales were $312.7M for the 4th-quarter of fiscal 2017, a boost of $26.3M, or 9.20%, from prior year period.
Bus unit sales were 3,608.00 units for the quarter contrast with 3,308.00 units for the similar period last year.
Gross Profit:
4th-quarter gross profit of $39.5M represents a boost of $0.8M from the 4th-quarter of last year.
Income/Loss from Continuing Operations:
Income from continuing operations was $14.4M for the 4th-quarter of fiscal 2017, a boost of $3.3M a contrast with the similar period last year.
The increase was mainly driven by lower operating and interest costs, partially offset by higher tax expense.
Adjusted Income from Continuing Operations:
Adjusted Income from Continuing Operations was $15.1M, representing a boost of $1.8M a contrast with the similar period last year.
Adjusted EBITDA:
Adjusted EBITDA was $25.10M, or 8.00% of net sales, for the 4th-quarter of fiscal 2017, representing a boost of $0.8M a contrast with the 4th-quarter of the prior year.
Complete Year 2017 Results:
Net Sales:
Total net sales were $990.6M for the fiscal year finished September 30, 2017, a boost of $58.6M, or 6.30%, contrast with the prior year.
This was mainly driven by higher bus unit sales, which were 701.00 units above the similar period last year.
Gross Profit:
Complete year gross profit was $127.4M, a decrease of $2.0M from the prior year.
Income/Loss from Continuing Operations;
Income from continuing operations was $28.8M for the fiscal year finished September 30, 2017, which was $21.5M above the similar period in the prior year. The increase was mainly driven by a decrease of $29.9M in selling, general and administrative costs, which was partially offset by a decrease of $2.0M in gross profit.
Adjusted Income from Continuing Operations:
Adjusted Income from Continuing Operations was $37.1M, representing a boost of $10.4M contrast with the prior year.
Adjusted EBITDA:
Adjusted EBITDA was $68.9M, or 7.00% of net sales, for the fiscal year finished September 30, 2017, a decrease of $3.3M from the prior year. The decrease in adjusted EBITDA was mainly the result of lower gross profit.
