This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Student Transportation Inc. Awarded New Contract In Pennsylvania

WALL, N.J., April 18, 2013 (GLOBE NEWSWIRE) -- Student Transportation Inc. ("STI") (TSX:STB) (Nasdaq:STB), North America's third-largest provider of school bus transportation services, announced that it has been awarded a new school transportation contract with the Gateway School District in Pennsylvania. The initial term of the contract is for six years and includes eighty new school buses that will run on new state of the art liquid propane gas (LPG) beginning next school year. The school district is the first in Western Pennsylvania and the second district in the state to switch from diesel fuel to propane. The new contract increases the regional density of the company's existing operations in Pennsylvania and provides $3.5 million in annual revenues under this contract.

School board officials took a test ride on a propane-fueled school bus prior to approving the contract. "The ride was comfortable," School Board President Steve O'Donnell said. "It was very quiet, a much quieter ride, as I understand, than the diesel powered. The exhaust fumes are minimal." O'Donnell added, "There are also safety features tied into the contract that go above and beyond state requirements."

This contract will save the Gateway School District approximately $372,000 compared to the current estimated transportation cost for the 2013-14 school year which it can use towards educational purposes. Student Transportation Inc. COO Patrick Vaughan stated, "With our recently extended and amended credit facility, our new 'managed contract program' where school districts continue to own or control the fleet, and by using the low cost leasing program we have developed with lenders, we have less need to go back to the market as we have in the past for our growth. We can deploy more alternative fuel vehicles, lowering our fuel cost and reducing carbon monoxide around schools. This is our 'less pollution, less dilution' program we have been working towards. Our customers, shareholders, communities and our children all benefit by this new approach. It is a new start in our effort to work on those 10,000 schools which continue to own and operate their own fleets. This is a positive step for us and we are pleased to be leading the change to a more cost effective model for schools and for a cleaner environment in the communities we serve. We certainly hope more schools reach out to us to learn more about the low cost managed options we have available for them."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs