Bombardier announces results for first quarter of 2011

Canadian aircraft manufacturer Bombardier has released its financial results for the first quarter ended 30 April 2011, in which revenues reached $4.7bn (£2.9m) — a nine per cent increase, compared with $4.3bn last fiscal year.

Earnings before financing income, financing expense and income taxes (EBIT) totalled $312m, up from $279m last fiscal year, representing an EBIT margin of 6.7 per cent for the quarter, compared to 6.5 per cent for the corresponding period in 2010.

Net income reached $220m, representing an increase from $195m for the same period a year ago, while the overall backlog reached $55.1bn, compared to $52.7bn as on 31 January 2011.

Diluted earnings per share (EPS) was $0.12 for the three-month period ended 30 April 2011, compared to diluted EPS of $0.11 for the same period last fiscal year.