Commercial aircraft sales help Bombardier increase profits
Published on -7/31/2014, 12:42 PM
By Molly McMillin
The Wichita Eagle
(MCT) Bombardier announced increases in revenue and net income for the second quarter of 2014, results that were in line with expectations, the company said.
Deliveries of business aircraft were down for the quarter, while shipments of commercial aircraft rose.
Revenue for the second quarter totaled $4.9 billion, up from $4.4 billion for the same time a year ago.
Net income, on an adjusted basis, totaled $192 million, or 10 cents per share, compared to $158 million, or 9 cents per share a year ago.
Bombardier Aerospace delivered 62 airplanes during the quarter, compared to 57 a year ago.
It received net orders for 48 airplanes, compared to 82 for the same time a year ago.
The company noted that the Learjet 85 made its first flight in April, and flights are proceeding as expected.
Revenue for the aerospace division totaled $2.5 billion for the quarter, compared to $2.3 billion a year ago.
The division's backlog totaled $38.1 billion as of June 30, compared to $37.3 billion as of Dec. 31.
The company delivered 38 business aircraft in the quarter, compared to 45 a year ago.
Commercial aircraft deliveries, meanwhile, totaled 23, compared to 12 a year ago. Bombardier also delivered one amphibious aircraft.
It did not break down deliveries by model.
Bombardier took 41 orders for business aircraft during the quarter and had 11 cancellations. It also took orders for 18 commercial planes.
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