Bombardier reports financial results for first quarter ended April 30, 2011

Bombardier’s consolidated revenues totalled $4.7 billion for the first quarter ended April 30, 2011, compared to $4.3 billion for the same period last year. EBIT reached $312 million, or 6.7% of revenues, compared to $279 million, or 6.5%, for the same period the previous year. Net income amounted to $220 million compared to $195 million for the same period the previous year. For the three-month period ended April 30, 2011, free cash flow usage totalled $409 million, compared to a usage of $217 million for the corresponding period the previous year. At Bombardier Aerospace, revenues totalled $2.2 billion, compared to $2 billion for the first quarter last fiscal year, while EBIT reached $141 million, or 6.4% of revenues, compared to $133 million, or 6.8% last fiscal year. Free cash flow usage of $168 million compares to a usage of $205 million for the same period last year. Bombardier Aerospace delivered 61 aircraft for the first quarter ended April 30, 2011, compared to 56 last fiscal year and received 86 net orders, compared to 61 for the same period last fiscal year. Its backlog increased by 10% reaching $21.1 billion, compared to $19.2 billion as at January 31, 2011.The group continued to experience an increasing level of business aircraft orders with 77 net orders, including an order from NetJets Inc. for 50 aircraft of the Global family, for a value of $2.8 billion based on list prices, compared to 6 for the same period last fiscal year.On the commercial aircraft front, there has been an increase in deliveries from 16 aircraft for the first quarter ended April 30, 2010 to 23 for the first quarter of the current fiscal year.