Bombardier shares down 2.6% as company reports difficult quarter – Suppliers Share Wrap
Bombardier reported a net income of CAD143 million from revenue of CAD4 billion for the three months to 31-Oct-2010. The results are well down compared with the same period in 2009, when the company reported net revenue of CAD4.6 billion and net income of CAD168 million.
The company reported revenue of CAD1.8 billion for its aerospace unit, compared with CAD2.1 billion last year. EBIT was CAD87 million, compared with CAD103 million for the year before. The aerospace industry continues to experience “challenging conditions as there is a lag between economic recovery and the time it positively impacts revenues”.
The company’s CSeries aircraft programme is on track, with Bombardier starting to release drawings to fabrication and production for the ground aircraft and for the first flight test aircraft. The CS100 and CS300 aircraft programs are on schedule for entry into service in 2013 and 2014, respectively.
Selected Original Equipment Manufacturers daily share price movements (% change): 03-Dec-2010
Selected Aviation Suppliers & Leasing daily share price movements (% change): 03-Dec-2010