Blue Bird Corporation, the independent designer and manufacturer of school buses, announced net income of $4.3 million for the third quarter of its 2021 fiscal year, ending 3 July 2021, compared to net income of $1.3 million reported for Q3 2020.
Net sales for the third quarter were $196.7million, up from $189.2 million reported for Q3 2020.
The Macon, Georgia-based company also announced results for the first nine months of its 2021 fiscal year ending 3 July 2021. Net income for the period was $2.1 million, up from net income of $244,000 reported for the same period in the previous fiscal year. Net sales for the nine-month period were $491.8, down from net sales of $597.8 million reported for the same period in the 2020 fiscal year.
Blue Bird Corporation president and chief executive Phil Horlock said: “The third quarter result for Blue Bird was impacted by numerous supply-chain disruptions. Despite these temporary disruptions, new order rates were well ahead of where we anticipated as the school bus industry is rebounding strongly, and we have built a substantial order backlog of more than 4,000 buses, comprising of both our traditional internal combustion engine buses and electric buses. The Blue Bird team managed through the supply issues well and we increased our gross margin by 2.2 points compared with last year, with improved performance in both bus and parts.”
Date published: 13 August 2021