Thursday, August 01, 2013

Bombardier Transportation aids parent’s 2Q

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Bombardier Inc. reported Thursday, Aug. 1, 2013, that adjusted net income for the company's second quarter was US$158 million, or nine U.S. cents per share, in line with Wall Street consensus estimates, but down about 5% from earnings of US$167 million in the second quarter of 2012.

Revenue of US$4.4 billion was up $300 million, or 7%, from US$4.1 billion in the comparable quarter in 2012.

Adjusted net income included special items in both Bombardier Transportation, which includes the company's rail operations, and Bombardier Aerospace for both years.

"The outlook for both groups is positive. Our record backlog of $65.5 billion, combined with our significant investments in new products, ensure solid growth in the years to come," said Bombardier Inc. President and CEO Pierre Beaudoin.

Bombardier Transportation's revenue of US$2.2 billion was up from $1.8 billion in the same period of 2012. New orders reached US$3.2 billion (book-to-bill ratio of 1.5), compared with US$2.9 billion for the same fiscal quarter last year. The order backlog totaled US$32.1 billion as at June 30, 2013, compared with US$32.0 billion as at Dec. 31, 2012.

"Transportation had a good second quarter with increases on all fronts; revenues and free cash flow improved, EBIT margin reached 6.9% and the level of new orders continued strong with a book-to-bill ratio of 1.5," Beaudoin said.