bombardier revenues up 18

 
Bombardier Inc.'s consolidated revenues for the year ended Jan. 31, 2000 totaled $13.6 billion (in Canadian dollars). Results reflects an 18 % increase over revenues of $11.5 billion for the previous year.

Bombardier President and Chief Executive Officer Robert E. Brown noted: "The Corporation has registered a substantial increase in consolidated revenues in fiscal 2000 and net income… Improved revenues are attributable to growth in the aerospace, transportation and capital segments while increased net income mainly results from the excellent performance of the aerospace segment as well as from the recreational products segment's turnaround."

Bombardier Aerospace led the way with an increase of 26% mainly attributable to higher aircraft deliveries.

Bombardier Recreational Products' revenues before adjustments amounted to $1.5 billion, compared with $1.6 billion for the year ended Jan. 31, 1999. The 10% decline in revenues reflected lower watercraft and snowmobile sales for the 1999 season. This was partially offset by initial sales of Bombardier's growing line of all-terrain vehicles.

Despite the decrease in revenues, Bombardier Recreational Products returned to profitability as pre-tax income for 1999-2000 reached $17.7 million. The "motor toy" group enjoyed a $63 million turnaround as recreational products had suffered a loss of $45.5 million in 1998-1999.

Bombardier officials attribute the improvement to reorganization undertaken to eliminate redundancy and encourage greater synergy in the context of reduced snowmobile and watercraft production as well as to a reduction of inventories of non-current models.

Brown noted that the income before income taxes of Bombardier Recreational Products were slightly positive during the third quarter of last year where revenues increased by 12%.