Bombardier reports first quarter revenues of $4.3bn

Bombardier reported its financial results for the first quarter ended March 31, 2013. Revenues totalled $4.3bn for the first quarter ended March 31, 2013, compared to $3.5bn for the same period last fiscal year. Earnings before financing expense, financing income and income taxes (EBIT) before special items totalled $240m, or 5.5% of revenues, compared to $188m, or 5.4%, for the same period last year. On an adjusted basis, net income amounted to $156m for the first quarter ended March 31, 2013, compared to $150m for the same period the previous year. For the three-month period ended March 31, 2013, free cash flow usage (cash flows from operating activities less net additions to property, plant and equipment and intangible assets) totalled $590m, compared to a usage of $695m for the same period the previous year. Available short-term capital resources of $5.1 billion include cash and cash equivalents of $3.7bn as at March 31, 2013, compared to $4.0bn and $2.6bn respectively as at December 31, 2012. The overall backlog reached $63.0bn as at March 31, 2013, compared to $64.9bn as at December 31, 2012.