Bombardier Announces Financial Results for the Fourth Quarter and the Year Ended January 31, 2010
Bombardier today reported good overall financial results for the fourth quarter and the year ended January 31, 2010 in a difficult economic environment. Revenues reached $19.4 billion, compared to $19.7 billion last fiscal year.
Bombardier Inc. (TSX:BBD.A)(TSX:BBD.B)
(All amounts in this press release are in U.S. dollars unless otherwise indicated.)
Fiscal year highlights
- Consolidated revenues of $19.4 billion, compared to $19.7 billion last fiscal year
- EBITDA of $1.6 billion, compared to $2 billion last fiscal year
- EBIT of $1.1 billion, compared to $1.4 billion last fiscal year
- Net income of $707 million (EPS of $0.39), compared to $1 billion (EPS of $0.56) last fiscal year
- Free cash flow usage of $215 million, compared to a free cash flow of $342 million last fiscal year
- Strong cash position of $3.4 billion
- Backlog of $43.8 billion
- Subsequent to year-end, implementation of a long-term debt-refinancing plan resulting in the extension of debt maturities and a cash increase of approximately $500 million
Earnings before financing income, financing expense and income taxes (EBIT) totalled $1.1 billion, compared to $1.4 billion last fiscal year. EBIT margin at 5.7% compares to last year's 7.2%. Net income reached $707 million, compared to $1
