Bombardier doing good in both businesses

Stronger results in its plane and train-making businesses took Bombardier Inc to a 95 percent higher quarterly profit, the company said on Thursday.

Photo: Bombardier doing good in both businesses

Bombardier doing good in both businesses

Bombardier, the world's top passenger train maker and third-largest civil aircraft manufacturer, said it earned $218 million, or 12 cents a share, in the quarter ended Jan. 31, up from $112 million, or 6 cents a share, in the year-earlier quarter.

Bombardier said its revenue rose 19.2 percent to $5.27 billion from $4.42 billion, mainly on stronger business and regional jet deliveries. Analysts had been looking for $4.89 billion.

In late November, Bombardier lifted the production rate for its CRJ700 and CRJ900 jets to one aircraft every three days from one every four days.

The aerospace arm now accounts for over half of the company's revenue. Bombardier's most popular aircraft currently include its Dash 8 and CRJ lines of regional airliners. It also manufactures the CL-415 amphibious water-bomber and the Challenger business jet.

Analysts were looking for Bombardier to elaborate on plans to officially launch the $3.2 billion development of its 110- to 130-seat CSeries airliner. Bombardier is seeking customers to provide the 50 to 100 firm orders it would need to proceed with development of the jet.

Bombardier Inc., a Canadian conglomerate, over the years has been a large manufacturer of regional aircraft, business jets, mass transportation equipment, recreational equipment and a financial services provider. Bombardier is a Fortune Global 500 conglomerate company. Its headquarters are in Montreal, Quebec, Canada.