09:47 AM EST - New Flyer Industries Inc. : reported a net loss for the second quarter of $14.7 million U.S., in comparison with a net loss of $10.7 million U.S. in the prior-year quarter. Consolidated revenue for the second quarter increased by 5% to $273.5 million U.S. from $260.4 million U.S. in the same quarter a year-ago. In July, a major U.S. customer order for 140 diesel-electric hybrid articulated buses was deferred indefinitely as a result of delays in the customer receiving state funding. As a result, the company plans to reduce its unionized workforce by up to about 270 positions at its facilities located in Winnipeg, Manitoba and its facilities in Crookston and St. Cloud, Minnesota. The company will also reduce its salaried workforce by up to about 50 positions, the majority of the salaried workforce reduction to take place in Winnipeg. New Flyer Industries Inc.
shares T.NFI.UN are trading down $0.20 at $7.98.
