BOMBARDIER Q3 RESULTS DISAPPOINT

Dino D'Amore
By Dino D'Amore December 3, 2010 22:20

BOMBARDIER Q3 RESULTS DISAPPOINT

Bombardier’s third-quarter earnings fell 15% due to low aircraft order during the economic downturn.

Although its train business showed good gains, its aerospace division ran into difficulties this year. The manufacturer received 23 net orders, up from seven a year earlier, while deliveries fell to 53 from 61. Of these deliveries, 33 were business aircraft, 19 were commercial and one was amphibious. Aerospace revenue fell 14% to $1.8 billion.

Although Boeing and Airbus are seeing a marked improvement in aircraft orders, but for the smaller manufacturers such as Bombardier and Embraer the rebound has been much slower.

Bombardier’s net income for the quarter ended October 31 fell to $143 million, or 8 cents a share, from $168 million, or 9 cents, a year earlier. Revenue declined 13% to $4 billion. However the CSeries aircraft program is on schedule and Bombardier is confident of sales, and already has 90 firm and 90 potential orders for the new jets.

Dino D'Amore
By Dino D'Amore December 3, 2010 22:20
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