BARRIE, Ont. - School bus operator Student Transportation Inc. (TSX:STB) is reporting lower net income in its fiscal fourth quarter despite an increase in revenue.
The Ontario-based company, which operates throughout the U.S. and Canada, reported Monday that net income fell to US$6.7 million, or eight cents per share, in the three months ended June 30.
That was down from US$9.2 million or 12 cents per share in the same year-earlier period even though revenue rose to US$122.3 million from US$103.4 million.
For the full year, net income rose to US$3.9 million, or five cents per share, up from $2.3 million, or three cents, the previous year.
Full-year revenue rose to US$423.7 million from US$368.9 million.
Student Transportation Inc. is North America's third-largest provider of school bus transportation services, operating more than 9,600 vehicles in the U.S. and Canada.
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