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NFI Group Inc. Q1-2018 Earnings & Price Trend Update

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NFI Group(NFI-TSX) (previously New Flyer Industries) is the largest bus and motor coach manufacturer and parts distributor in North America, with 32 fabrication, manufacturing, distribution, and service centers located across Canada and the United States. Financial statements are issued in US dollar, approximately 7% of revenues are from Canada; dividends are paid in Canadian dollars. As North America's leading heavy-duty transit bus manufacturer the product line includes the Xcelsior, the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, electric-trolley and battery-electric. Revenue is reported in two segments, bus manufacturing operations and aftermarket operations. Bus manufacturing contributes approximately 85% of annual revenues, parts provide 20%. NAFTA is expected to have a minimal impact on earnings due to busses having to quality under Buy America rules.

New Flyer actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Approximately 84% of revenues are from manufacturing and 16% from parts and service. Aftermarket parts market consists of approximately 90% government municipalities and transit authorities and 10% private operators (such as rental car agencies). Drive systems include diesel, LNG, CNG and electric trolley as well as energy-efficient gasoline-electric, diesel-electric hybrid vehicles and hydrogen fuel cell technology.

The motor coach segment operates as Motor Coach Industries, acquired in 2015. Motor Coach Industries is North America's motor coach leader offering the J-Series, the industry's best-selling intercity coach for 11 consecutive years, and the D-Series, the industry's best-selling motor coach line in North American history. MCI actively supports over 28,000 coaches currently in service. MCI was the exclusive distributor of Daimler Setra S417 and S407 in the United States and Canada.; however Daimler now sells this brand directly. MCI actively supports over 28,000 motor coaches (MCI and Setra) currently in service and offers 24-hour roadside assistance 365 days a year.

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