Bombardier Inc. (TSX:BBD.B) profit fell to US$202 million in its latest quarter as the aerospace division delivered fewer planes than it did a year earlier and profit margins shrank.
The Montreal-based company says its company’s profit, expressed in U.S. currency, was the equivalent of 11 cents per diluted share — down from 14 cents per share or $259 million for the second quarter last year.
Revenue totalled $4.9 million, about the same as last year.
Bombardier Aerospace’s revenues totalled $2.4 billion, down $100 million from a year ago.
That was offset by a $131-million increase in revenue at the company’s rail division, which had $2.5 billion in revenue during the quarter.
The company’s president says Bombardier has strong fundamentals and is focused on reducing costs in what he describes as a difficult economic environment.
Filed Under: Aerospace + defense