13:25:33 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Grande West Transportation Group Inc
Symbol BUS
Shares Issued 61,879,406
Close 2017-07-21 C$ 2.80
Market Cap C$ 173,262,337
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Grande West delivers 32 buses, expects profit in Q2

2017-07-24 07:19 ET - News Release

Mr. John LaGourgue reports

GRANDE WEST PROVIDES MANAGEMENT UPDATE AND SECOND QUARTER EARNINGS DATE

Grande West Transportation Group Inc. has provided a management update on Vicinity bus deliveries during the second quarter ended June 30, 2017, as well as second quarter earnings release date.

The company delivered a record number of 32 buses in the second quarter. These record deliveries will result in Grande West's first profitable quarter.

Management is targeting delivery of a minimum of 200 Vicinity buses during 2017.

Along with reaching profitability and record deliveries, management is pleased with the company's Vancouver-based assembly and inspection process. These processes have now been tested and confirmed during ramped-up deliveries in the first half of the year. This faster pace of deliveries will continue throughout the third and fourth quarters and the company will continue to implement process improvements as it optimizes its methods and practices. These actions and lessons learned will be directly applicable to the Atlanta Buy America facility to ensure that operations there are ramped up smoothly and with the highest quality.

Taras Kindzersky, chief operating officer of Grande West, stated: "We are extremely pleased in achieving record deliveries for the quarter, close to matching all deliveries during the 2016 calendar year. Our new systems for streamlining predelivery inspections and deliveries have been successful and continue to improve. I am very proud of our operational team's drive and enthusiasm in scaling up to the next level. Building on second quarter successes is setting us up for continued record deliveries moving into the coming quarters."

Second quarter financial results will be announced before market open on Aug. 17, 2017. A conference call to discuss these results will be held the same day at 8 a.m. Pacific Standard Time/11 a.m. Eastern Standard Time. The call-in number is 866-215-5508 or 514-841-2157 and can be accessed by entering pass code 45310688. A recording of the call will be available on the website shortly after.

About Grande West Transportation Group Inc.

Grande West Transportation Group is a Canadian bus manufacturer that designs, engineers and manufactures mid-size buses for transit authorities and commercial enterprises.

The company has been successful in supplying Canadian municipal transportation agencies and private operators with new buses and is receiving follow-on orders in many Canadian transit agencies. Grande West is compliant with Buy America and, along with ABG, has sold Vicinity buses to U.S.-based public and private operators and is actively pursuing more opportunities throughout the United States.

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