NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BOMBARDIER INC.
TSE SYMBOL: BBD.A BBD.B
MARCH 23, 2000
Bombardier Announces its Unaudited Financial Results for
the Year Ended January 31, 2000
MONTREAL, QUEBEC--For the year ended Jan. 31, 2000, the
consolidated revenues of Bombardier Inc. totalled $13.6 billion,
an 18 % increase over revenues of $11.5 billion the previous year.
Net income for the year, before net unusual items, reached $752.4
million, an increase of 36 % over $554.0 million for the preceding
year. Earnings per share, before net unusual items, rose to $1.06
from $0.77 the previous year. Net income, after net unusual items
of $51.1 million ($33.6 million after tax), reached $718.8 million
or $1.02 per share, an increase of 30 % over last year.
Consolidated revenues for the fourth quarter of 1999-2000 totalled
$4.4 billion, compared with $4.0 billion for the quarter ended
Jan. 31, 1999. Net income for the quarter, before net unusual
items, rose to $271.4 million, or $0.38 per share, as against a
net income of $193.7 million, or $0.27 per share, for the same
period last year. After net unusual items of $17.4 million ($17.3
million after tax), net income for the quarter amounted to $254.1
million or $0.37 per share.
The unusual items for the quarter result from restructuring
charges of $84.0 million related to Bombardier Transportation's
European operations and of $44.5 million related to Bombardier
Aerospace's Commercial Aviation Services. These restructuring
charges totalling $128.5 million were partially offset by a net
gain of $111.1 million on the divestiture of the Corporation's 50
% interest in Shorts Missile Systems Limited and of its 100 %
interest in Specialist Aviation Services Limited.
Bombardier's order backlog at Jan. 31, 2000 reached $27.2 billion,
a 7 % increase over the $25.5 billion backlog at Jan. 31, 1999.
In aerospace, the backlog increased to $18.9 billion at Jan. 31,
2000, from $16.2 billion at the end of the previous fiscal year
and in transportation, it totalled $8.3 billion at the end of the
fiscal year compared to $9.3 billion at Jan. 31, 1999. |
