Bombardier's Uplifting Q1 Results
Bombardier posted a $79 million profit in the first quarter, up from $24 million last year with corresponding revenues up from $3.5 billion to $4 billion. Aircraft orders clocked in at 174 versus 52 for the same period one year ago. Bombardier Aerospace's backlog now stands at $15.4 billion and earnings have jumped from a pre-interest, pre-tax figure of $55 million to $112 million. Laurent Beaudoin, Chairman of the Board and CEO of Bombardier Inc., said the company's aircraft division is performing well. "At aerospace, business aircraft continue to attract a substantial level of new orders," he noted. "We're now also seeing the U.S. airline industry rebounding, as demonstrated by a higher level of regional aircraft orders compared to last year." The rise in business corresponds to a year-over-year rebound in the U.S. airline industry's regional aircraft orders.