Bombardier nets $190 million in quarter
MONTREAL - Bombardier Inc. (TSX:BBD.A) says net income came in at $190 million in the first quarter, or 10 cents a share.
That compares to net income of $220 million, or 12 cents a share in the same period a year ago.
The Montreal-based company, which reports its results in U.S. dollars, says its quarterly revenue was $3.5 billion, compared to $4.7 billion last year.
"As anticipated, we had lower revenues in the first quarter," said Bombardier president and CEO Pierre Beaudoin.
"At Aerospace, the entry into service of the Vision Flight Deck on the Global 5000 and Global 6000 aircraft and the resulting transition, as well as lower deliveries of commercial aircraft, had an impact on our revenues," he said in a statement.
"Nevertheless, we were able to contain costs and maintain our profitability. We had a solid level of new orders in business jets and we're starting to see momentum in commercial aircraft orders which led to an increased backlog of $23.3 billion."
Note to readers: This is a corrected story. An earlier version said net revenue in lede instead of net income
MSN.ca Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances.
Should new wireless companies Mobilicity, Wind Mobile and Public Mobile be allowed to fail?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- Yes, the market will decide if they are competitive enough to survive.
- No, the playing field in the wireless market is not level. The government should help these companies.
- I don't know.