Grande West Announces Fourth Quarter and Fiscal Year 2018 Results

Grande West Announces Fourth Quarter and Fiscal Year 2018 Results Grande West Transportation has announced financial results for the fourth quarter and the year ended December 31, 2018. Fourth Quarter and Yearly 2018 Highlights:

• Record bus, aftermarket parts and other revenue of $70,076,720 for the year ended December 31, 2018 compared to $54,701,931 for the year ended December 31, 2017
• Record 2018 adjusted EBITDA of $5,224,549 for the year ended December 31, 2018 compared to $770,394 for the year ended December 31, 2017 (see “reconciliation of net earnings to adjusted EBITDA”)
• Record net income of $948,951 for the year ended December 31, 2018 compared to a net loss of $416,693 for the year ended December 31, 2017
• Record deliveries of 180 Vicinity buses, including 7 new leased buses, for the year ended December 31, 2018 compared to 152 buses delivered for the year ended December 31, 2017
• Bus, aftermarket parts and other revenue for the three months ended December 31, 2018 of $8,511,617 compared to $12,508,075 for the three months ended December 31, 2017
• Net loss for the three months ended December 31, 2018 of $1,154,588 compared to net loss of $641,714 for the three months ended December 31, 2017
• Adjusted EBITDA for the three months ended December 31, 2018 of $26,927 compared to an adjusted EBITDA loss of $483,967 for the three months ended December 31, 2017 (see “reconciliation of net earnings to adjusted EBITDA”)
• Deliveries of 19 Vicinity buses, including one new leased bus, for the three months ended December 31, 2018 compared to 33 for the three months ended December 31, 2017