STUDENT TRANSPORTATION INC 5.25 PCT DEBS T.STB.DB.A

RE:RE:ffhwatcher

[goldsternp]

It isn't easy for the average human to make sense from the reports.

The no school, first quarter is much lighter on revenue ($20) than expenses when compared to the school year quarters. In the first quarter last year, net borrowings were $14 more than investments and this year $16. I think this sum is needed to make up the revenue/expense gap of $20 in the slow quarter, but it is repaid when the additional $20  per school year quarter flows in.