Bombardier profit drops

Bombardier Inc said quarterly profit fell 26 percent, in line with expectations, as weak demand in the aerospace sector offset strength in the company's rail transportation segment. The world's No 3 civil aircraft maker and No 1 train maker earned $168 million, or 9 cents a share, in its third quarter, ended October 31. That was down from $226 million, or 12 cents a share, a year earlier.
Revenue at Montreal-based Bombardier, founded as a snowmobile manufacturer in 1942, was flat at $4.6 billion. Analysts, on average, had expected earnings of 9 cents a share on revenue of $4.58 billion, according to Thomson Reuters I/B/E/S. The company delivered 61 aircraft in the quarter, compared to 80 in the same period last year. Revenue at Bombardier Aerospace was down 9 percent at $2.06 billion.