Bombardier reports annual profit of US$317M
April 3, 2008, Montreal- Bombardier Inc. has pulled in an annual profit of US$317 million, up from $268 million in the previous year, on strong results from both its aircraft and rail divisions.
April 3, 2008, Montreal- Bombardier Inc. has pulled in an annual
profit of US$317 million, up from $268 million in the previous year,
on strong results from both its aircraft and rail divisions.
The Montreal-based global transportation equipment maker,
reporting in U.S. dollars, said Thursday revenue was $17.5 billion
in the year ended Jan. 31, up 18 per cent from $14.9 billion in its
previous financial year.
Earnings per share came to 16 cents, up from 14 cents a year
earlier. Excluding one-time items, Bombardier earned 26 cents per
share for the year, exceeding the 22 cents per share expected by
analysts surveyed by Thomson Financial.
Free cash flow was $2 billion, up from $610 million, while the
company made $1.1 billion in early repayments of long-term debt and
ended the year with $3.6 billion in cash and its biggest-ever order
backlog of $53.6 billion.
"Our liquidity position is particularly solid and profitability
has continued to increase, as we keep our focus on cost,'' stated
chairman and chief executive Laurent Beaudoin.
"The strengthening of the balance sheet, the strong cash
position and large backlog will enable Bombardier to weather current
financial market turmoil.''
Fourth-quarter revenue was $5.3 billion, up from $4.4 billion a
year earlier, and net income almost doubled to $218 million or 12
cents per share, from $112 million, six cents per share. Analysts
were expecting eight cents per share on revenue of $4.85 billion.
At Bombardier Aerospace, full-year revenue increased 17 per cent
to $9.7 billion as business jets and regional airliners enjoyed
The Bombardier Transportation rail equipment division had an 18
per cent revenue increase to $7.8 billion, with its two most
important contracts coming from China and India.
The consolidated bottom line included a one-time item of $162
million, 10 cents per share, as Bombardier wrote off its holding in
the Metronet London subway upgrade.