Sales
Sales were $463,731 and $0 for the three months ended March 31, 2018 and 2017, respectively. All sales for the three months ended March 31, 2018 were related to a U.S. Department of Energy (“DOE”) grant awarded to Blue Bird Corporation for which we were selected to provide products and services. Sales are recognized in accordance with ASC Topic 606, as discussed in Note 2 of the unaudited consolidated financial statements included in this Quarterly Report.
“We are pleased with our second quarter performance and are well positioned to deliver our full-year targets," said Phil Horlock, President and Chief Executive Officer of Blue Bird Corporation. “We are excited about the Operational Transformation Initiatives we are implementing to improve quality, reduce cost, increase capacity and ensure that Blue Bird continues its tradition as the innovator in the School Bus industry. These key initiatives will drive higher profitability and margins and we are pleased with progress toward our target of an Adjusted EBITDA margin of more than 10% by FY2020. Continuing to invest in differentiated products that customers want and value is a core priority in Blue Bird, as evidenced by another quarter of strong growth and leadership in sales of our alternative-fuel powered school buses and by customer reaction to our all-new range of electric-powered buses. Blue Bird will begin delivery of electric buses to school districts before the end of this fiscal year.
Blue Bird Zero-Emissions Electric School Buses Spark Interest in New York
Company Release - 05/01/2018
Iconic brand’s bus line-up and unique grant opportunities makes electric a preferred option for districts
LONG ISLAND, N.Y.--(BUSINESS WIRE)-- More than 50 school district leaders from all across the state of New York are plugging in to electric school buses and the benefits these buses offer to schools, students and their communities with two events that showcased Blue Bird’s newest bus offering.
Currently on an inaugural cross-country tour, this battery-powered prototype bus made a stop on April 10th in Bay Shore, Long Island, where school board members, superintendents and transportation officials participated in a two-hour introduction and test ride of the bus.
The event was hosted by Suffolk Transportation Service, Suffolk County’s largest pupil transportation provider. Blue Bird Corporation built the electric-powered All American bus, utilizing its exclusive ADOMANI/EDI electric drivetrain.
