Bombardier: first-quarter earnings rises on train strenght
(CercleFinance.com) - Higher train revenues helped Bombardier to increase its first-quarter earnings, the Canadian company said on Thursday.
The maker of trains and civil aircraft earned 44 million dollars, or 1 cent a share, in the quarter ended 31 March, up from 6 million dollars, or 0 cent a share, a year earlier.
Revenues increased 12% year-on-year to 4 billion dollars, highlighting an acceleration in top-line growth, it said.
Business aerospace revenue increased to 1.1 billion dollars from 1 billion dollars, while revenue in rail transportation continued to rise, increasing by 21% year-on-year to 2.4 billion dollars, driven by the ramp-up of key projects.
The company also said it has entered into a definitive agreement to sell its Downsview property, north of Toronto, for 635 million dollars, raising cash of over 550 million dollars, net of transaction fees.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The maker of trains and civil aircraft earned 44 million dollars, or 1 cent a share, in the quarter ended 31 March, up from 6 million dollars, or 0 cent a share, a year earlier.
Revenues increased 12% year-on-year to 4 billion dollars, highlighting an acceleration in top-line growth, it said.
Business aerospace revenue increased to 1.1 billion dollars from 1 billion dollars, while revenue in rail transportation continued to rise, increasing by 21% year-on-year to 2.4 billion dollars, driven by the ramp-up of key projects.
The company also said it has entered into a definitive agreement to sell its Downsview property, north of Toronto, for 635 million dollars, raising cash of over 550 million dollars, net of transaction fees.
Copyright (c) 2018 CercleFinance.com. All rights reserved.