Thursday, May 10, 2012
Bombardier, the world's third-largest maker of civilian commercial aircraft, says its profit dropped nearly 14 percent to US$190 million in the first quarter on a 25 percent decrease in aerospace and transportation revenues.
President and CEO Pierre Beaudoin said Thursday that lower deliveries of commercial aircraft, among other factors, impacted its revenue.
The Montreal-based company, which reports in U.S. dollars, earned 10 cents per share for the period ended March 31.
That compared with net income of $220 million, or 12 cents a share, in the same period a year ago.
Revenue was $3.5 billion, down from $4.7 billion last year.
Adjusting for one-time costs and a lower tax rate, profit was about 8 cents per share in the quarter this year.