Bombardier Aerospace reports fourth quarter results

Bombardier Aerospace reports reasonably good results for the fourth quarter of the company’s fiscal year that ended Jan. 31, and for the full year, considering that it has weathered a severe economic downturn. The complete report can be found in the press release.

“In aerospace, we took the necessary steps to adapt to the economic reality by carefully monitoring capital expenditures and reducing our production rates for both business and regional jets,” said Pierre Beaudoin, president and chief executive officer. “We met our target deliveries and increased our market share in both segments. Keeping our sight on the long term, we continued to invest in the development of our new flagship products, the Learjet 85 business jet and the CSeries commercial aircraft for which we have now received 90 orders.”

Revenues totaled $9.4 billion compared to $10 billion last fiscal year. Bombardier Aerospace’s backlog reached $16.7 billion as of Jan. 31, 2010, compared to $23.5 billion at the same date last year.

The group recorded 11 net orders (213 gross orders and 202 cancellations) in fiscal year 2010, compared to 367 net orders (423 gross orders and 56 cancellations) last fiscal year. Deliveries totaled 302 aircraft, versus 349 last fiscal year.

Bombardier Aerospace delivered 176 business aircraft in fiscal year 2010, compared to 235 aircraft last year. The commercial aircraft division delivered 121 units in fiscal year 2010, compared to 110 aircraft in the previous year. Bombardier Aerospace expects to deliver approximately 15 percent fewer business aircraft and 20 percent fewer commercial aircraft in fiscal year 2011, compared to the previous fiscal year.

The development of new aircraft programs is evolving as planned. Flight testing on the CRJ1000 NextGen aircraft has resumed in February 2010 and its entry into service is scheduled for the second half of calendar year 2010. The construction of a new manufacturing facility for key components of the Learjet 85 aircraft has begun in Queretaro, Mexico.