Bombardier Posts Q3 Results, Record Backlog

For the third quarter of fiscal year 2008 ending October 31, net income at Bombardier Inc. reached $91 million, or $0.05 per share, compared to $74 million, or $0.04 per share, for the same period the previous year. A net income of $99 million, or $0.04 per share, was recorded for the nine-month period ended October 31, 2007, compared to $156 million, or $0.08 per share, for the same period the previous year.
For the three-month period ended October 31, free cash flow amounted to $560 million, compared to a usage of $117 million for the corresponding period the previous year. For the nine-month period ended October 31, 2007, free cash flow amounted to $1 billion, compared to a usage of $510 million for the corresponding period last year, representing a $1.5-billion increase. These improvements are mainly owing to better management of working capital in both groups.
As of October 31, 2007, Bombardier's order backlog reached a record level of $51.6 billion, compared to $40.7 billion as of January 31, 2007. The $10.9-billion increase is due to higher order intake compared to revenues recorded in aerospace and transportation, and a net currency impact in transportation, mainly arising from the strengthening of the euro and the pound sterling versus the U.S. dollar as of October 31, compared to January 31, 2007.