Here is the detailed breakdown:
MONTREAL, QUEBEC--The consolidated revenues of Bombardier Inc. for
the quarter ended July 31, 1999 reached $3.2 billion compared with
$2.5 billion for the same period last year. Net income for the
quarter was $169.1 million, or $0.24 per share, as against a net
income of $122.7 million, or $0.17 per share, for the quarter
ended July 31, 1998.
For the six months ended July 31, 1999, consolidated revenues
amounted to $6.0 billion compared with $4.8 billion for the same
period last year. Net income reached $313.6 million, or $0.44 per
share, as against $234.8 million, or $0.33 per share, for the same
period last year.
/T/
The highlights are as follows:
(millions of Canadian dollars, except per share amounts)
Three months Six months
ended July 31 ended July 31
1999 1998 1999 1998
-------------------------------------------------------------
Revenues
Aerospace $1,846.7 $1,378.8 $3,417.7 $2,632.9
Recreational
Products 239.3 291.5 555.3 694.0
Transportation 959.2 711.1 1,800.6 1,314.5
Bombardier
Capital 173.9 136.6 329.7 254.6
Intersegment
eliminations (38.3) (29.7) (71.9) (60.1)
-------------------------------------------------------------
External
revenues $3,180.8 $2,488.3 $6,031.4 $4,835.9
-------------------------------------------------------------
Income before
income taxes
Aerospace $194.8 $128.0 $361.3 $239.5
Recreational
Products 1.1 7.9 1.1 23.5
Transportation 50.4 33.3 94.2 60.5
Bombardier
Capital 6.1 19.6 11.5 37.7
-------------------------------------------------------------
252.4 188.8 468.1 361.2
-------------------------------------------------------------
Income taxes 83.3 66.1 154.5 126.4
-------------------------------------------------------------
Net income $169.1 $122.7 $313.6 $234.8
-------------------------------------------------------------
Earnings per
share:
Basic $0.24 $0.17 $0.44 $0.33
Fully diluted $0.23 $0.16 $0.43 $0.32
Average number
of common
shares
outstanding
during the
period 683.6 679.6
(millions)
/T/
Bombardier's order backlog at July 31, 1999 reached $26.0 billion,
a 40 percent increase over the $18.6 billion backlog at the end of
the second quarter last year. In aerospace, the backlog increased
from $11.8 billion last year to $17.6 billion at July 31, 1999 and
in transportation, it went from $6.8 billion to $8.4 billion.
Commenting on these results, President and Chief Executive Officer
Robert E. Brown noted that "second quarter revenues increased by
28 percent while net income rose by 38 percent over the same
period last year. Higher revenues and net income are attributable
to a good performance in the aerospace and transportation sectors.
Aircraft deliveries increased in the aerospace sector while
Bombardier Transportation benefited from an increase in activities
in North America and Europe". Mr. Brown added that the income
before income taxes of Bombardier Recreational Products became
slightly positive although the revenues decreased by 18 percent.
He also mentioned that production of the new ATV Traxter(i) has
started during the quarter and that the production rate will
increase during the next quarters. Bombardier Capital has
continued to experience a strong growth in revenues and in assets
under management.
Bombardier Inc. is a Canadian corporation active in the fields of
aerospace, rail transportation equipment, recreational products,
financial services and services related to its products and core
businesses. It operates plants in 12 countries in North America,
Europe and Asia, and more than 90 percent of its revenues are
generated outside Canada. Bombardier's revenues for its fiscal
year ended January 31, 1999 totalled $11.5 billion.
(i) Trademark of Bombardier Inc. or its subsidiaries
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Bombardier Inc.
Michel Lord
Vice President, Communications and Public Relations
(514) 861-9481
bombardier.com |
