Thanks Sergio, did you see BBD news, backlog 23BB,,pretty much as predicted<g>,,except for the rec div(and we expected this to be lousy)...beautiful report
===================================================================
Canadian Corporate News --- Hot Off The Wire
News Release for BOMBARDIER INC.
===================================================================
-------------------------------------------------------------------
E*TRADE Canada
Don't make your investment decisions site unseen.
Sign-up for a free trial membership:
www2.cdn-news.com
Someday we'll all invest this way.
-------------------------------------------------------------------
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BOMBARDIER INC.
ME, TSE SYMBOL: BBD.A
ME, TSE SYMBOL: BBD.B
FEBRUARY 8, 1999
Bombardier Provides an Update on its Operations
MONTREAL, QUEBEC--In the context of its fiscal year-end on January
31, 1999, Bombardier today provided an update on each of its main
business segments.
Aerospace
This last fiscal year has once again been a record one for
Bombardier Aerospace both in terms of number of deliveries and new
orders. In total, the number of aircraft deliveries reached 227
units in fiscal year 1998-99 compared to 178 for the same period
last year. Of this number, there were 102 commercial aircraft
delivered: 72 Canadair Regional Jet(i) and 30 Dash 8(i) Q
turboprops. Deliveries of business aircraft were as follows: 10
Global Express(i), 39 Challenger(i) 604, 30 Learjet(i) 60, 13
Learjet 45 and 21 Learjet 31. As well, 12 Canadair 415(i)
amphibious aircraft were delivered.
Due to the success of its product line, Bombardier Aerospace
received during the same period a record number of 248 firm orders
for its various regional aircraft compared to 151 orders the
previous year, of which 223 were for the Canadair Regional Jet,
Series 100, 200 and 700. The business jet aircraft market has
also been very favourable as demonstrated by the record number of
deliveries during the fiscal year as well as by the 60 percent
increase in the number of customers of the Business
JetSolutions(i) fractional ownership program FlexJet(i) which went
from 206 to 330.
At January 31, 1999, the firm order backlog for Canadair Regional
Jet and Dash 8 Q regional aircraft stood at 323 as opposed to 194
at January 31, 1998.
Transportation
Bombardier Transportation experienced a major revenue growth
attributable to the consolidation of the accounts of Deutsche
Waggonbau, of Berlin, Germany, acquired at the end of 1997-98, and
to the sustained level of deliveries and work in process both in
the European and North American operations.
Bombardier Transportation was awarded the largest order in its
history, valued at $2.6 billion, for the supply to Virgin Rail of
the United Kingdom of 352 cars and for the maintenance of rolling
stock over a 12-year period. Orders for the supply of light rail
automated transportation systems for the John F. Kennedy Airport
in New York and for the Vancouver metropolitan area are also among
the major orders received during the period.
The value of Bombardier Transportation's order backlog totalled
approximately $9.4 billion at January 31, 1999, an increase of 44
percent over the previous year.
Recreational Products
Bombardier Recreational Products experienced a difficult year,
marked during the last quarter by late snowfalls in most regions
in Canada and the United States. The additional costs of special
sales programs put in place to stimulate the snowmobile retail
market had a negative impact on the group's results.
As anticipated, the personal watercraft market experienced a
further drop in total units sold. Even at this reduced level, the
market is still very attractive and Bombardier continues to
innovate and demonstrate its leadership. The new Sea-Doo(i) GTX
RFI model introduced last year was so successful that the Rotax(i)
fuel injection technology, which reduces fuel consumption and gas
emissions, has been extended to a second model this year and the
sound reduction systems installed on the same model last year is
now incorporated into most new models.
Major investments were made during the period in product and
market development of the all-terrain vehicles (ATV), the
neighborhood vehicle Bombardier NV(i) and the sport boat line of
products. Undergoing its first market tests during the last few
months, the Bombardier Traxter(i), launch model of the future line
of ATV's, was reviewed very favourably by trade publications and
was designated as the best ATV on the market by Popular Mechanics
magazine.
Bombardier Capital
Bombardier Capital experienced a strong increase in its volume of
financing, particularly following its expansion into retail
financing and mortgage financing of manufactured homes.
During the last fiscal year, Bombardier Capital has made
substantial investments in control, credit scoring and risk
management systems required to prepare for the anticipated growth
in several of its new business sectors.
At January 31, 1999, Bombardier's order backlog was in excess of
$23 billion, a major increase compared to a backlog of $18.1
billion at the end of the previous year. In light of this record
backlog and of the performance of its various business segments,
the Corporation views its last fiscal year as very successful.
The financial results for fiscal 1998-99 will be released on April
13, 1999. Bombardier's revenues for its fiscal year ended January
31, 1998 totalled $8.5 billion.
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 11 countries in North America
and Europe and more than 88 percent of its revenues are generated
outside Canada.
(i) Registered trademarks of Bombardier Inc. and/or of its
subsidiaries.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Bombardier Inc.
Michel Lord
Vice President, Communications and Public Relations
(514) 861-9481
bombardier.com
INDUSTRY: IDD
SUBJECT: NWS
-0-
===================================================================
You may change your service options at anytime by visiting:
cdn-news.com
=================================================================== |
