School Bus Contractors

STA reports second quarter financials

Posted on February 14, 2008

TORONTO — Student Transportation of America Ltd. (STA) reported financial results for the second quarter of its fiscal 2008, which ended Dec. 31, 2007.

Second quarter revenue was $54.5 million, up 16.2 percent from $46.9 million in the prior year. Net income for the quarter was $0.7 million, or $0.02 per common share, compared to a net loss of $2.4 million, or a $0.12 net loss per common share.

EBITDAR (earnings before interest, taxes, depreciation, amortization and rent) for the second quarter increased to $12.0 million from $10.2 million for the prior year second quarter, and cash available for distributions increased to $9.7 million from $8.3 million.

The company paid out $5.9 million in Canadian dollars in distributions during the quarter. Net cash provided by operations was $8.5 million for the quarter compared to $3.2 million in fiscal 2007.

In January, STA completed its acquisition of Canadex Resources Ltd., one of the largest independent school bus operators in Ontario.

“This strategic acquisition is STA’s largest investment in Ontario and will significantly increase our Canadian cash flows at a time when the Canadian dollar is near par with the U.S.,” said STA Chairman and CEO Denis Gallagher.

 

Related Topics: Student Transportation of America

Comments ( 0 )
More Stories
Dunia Burns, who is employed by Chestnut Ridge Transportation in New York, was named a “Mountie Superstar” by the school district she serves for exceptional service to its students and staff. 
News

School Bus Driver Honored for Exceptional Service

Dunia Burns, who is employed by Chestnut Ridge Transportation in New York, is named a “Mountie Superstar” by the school district she serves for exceptional service to its students and staff.  

In a video from Wichita Public Schools, a First Student training manager explains what it takes to become a school bus driver as the local operation looks to bring new recruits on board.
Article

Dealing With Driver Shortage Is Still a Big Deal

There are other commercial driving jobs that pay more than driving a school bus, but they don’t involve transporting students. The opportunity to contribute to children’s education and safety could spark interest in the job.    

Planning has begun for the 17th National Congress on School Transportation (NCST) in 2020. Murrell Martin and Bill Loshbough are shown here leading a discussion at NCST 2015.
News

NCST 2020 Planning Begins

Planning for the 17th National Congress on School Transportation is now in the works, with committee members being re-established and selected through this summer.

Be the First to Know

Get the latest news and most popular articles from SBF delivered straight to your inbox. Stay on top of the school bus industry and don't miss a thing!