Bombardier reports mixed profit in 3Q2012

Bombardier revenue down 6% - financial highlights for three months ended 30-Sep-2012:

• Revenue: USD4338 million, -6.2% year-on-year;
  • Bombardier Aerospace: USD2267 million, -1.7%;
    • Commercial aircraft: USD257 million, -51.1%;
• Operating profit: USD248 million, -17.6%;
• Net profit: USD209 million, +7.7%;
• Aircraft deliveries:
  • Bombardier Aerospace: 57, compared to 68 in p-c-p;
    • Commercial aircraft: 12, compared to 24 in p-c-p;
• Net aircraft orders: 83, compared to 34 in p-c-p;
  • Commercial aircraft: 38, compared to four in p-c-p;
• Total assets: USD24,896 million, +4.3% when compared to period ended 31-Dec-2011;
• Cash and cash equivalents: USD2146 million, -36.4% when compared to period ended 31-Dec-2011;
• Total liabilities: USD23,660 million, +2.0 when compared to period ended 31-Dec-2011. [more - original PR]

Bombardier: "In Aerospace, since the beginning of the year, substantial headway has been made in the CSeries development program and testing is progressing well. We have used the momentum gained over the last few months to meet a number of key milestones, however, some areas require more time. Together with our suppliers, we have now fully harmonized all commitments to the program's schedule. Therefore, the CS100 aircraft's first flight will now occur by the end of June 2013 - a timeline that all parties have agreed is achievable. We will continue to give regular updates on the program, with a more detailed review during the first quarter of next year," Pierre Beaudoin, president and CEO. Source: Company statement, 07-Nov-2012.