New Flyers Xcelsior bus (Photo: New Flyer)

WINNIPEG — New Flyer Industries Inc. is reporting third quarter net earnings of $7.8 million, up from $1.5 million in the same quarter of 2012.

The Winnipeg bus manufacturer attributes the improvement to higher earnings from operations and an increase in non-cash recoveries caused by the favourable impact of foreign currency translation resulting from the weakening Canadian dollar, offset somewhat by increased income taxes.

Year to date net earnings are $13 million, compared with $5.4 million a year ago.

Revenue for the third quarter came in at $309 million, up from $208.4 million during the year ago quarter.

RELATED: Orders for New Flyer buses in second quarter soar from year ago; deliveries up

The company delivered 577 buses during the quarter, an improvement from 386 in the same quarter of 2012.

New Flyer reports its results in U.S. dollars.