October 31, 2013 / 10:58 AM / 4 years ago

Bombardier profit dips as aircraft deliveries, orders fall

(Reuters) - Canadian plane and train maker Bombardier Inc (BBDb.TO) reported a 15 percent fall in net profit, and said both aircraft orders and deliveries fell in the third quarter.

Aerospace revenue fell 13 percent to $2 billion.

Bombardier, the world’s fourth largest planemaker, delivered 45 aircraft during the quarter, down from 57 a year earlier. Net orders fell to 26 aircraft, from 83.

The backlog in the aerospace division was $32.9 billion as of September 30, unchanged from December 31.

“In aerospace, results were in line with our guidance, but the low order intake and overall market conditions were a disappointment,” Chief Executive Pierre Beaudoin said on Thursday.

Bombardier, the world’s largest trainmaker, said revenue in that division rose nearly 11 percent to $2.1 billion.

The order backlog in the transportation unit was $32.6 billion as of September 30, up marginally from December 31.

The company also said that Google Inc (GOOG.O) Chief Financial Officer Patrick Pichette would join the board.

Much attention has been focused this year on Bombardier’s new CSeries plane, which was unveiled in March and took flight for the first time last month after months of delays.

    The company is hoping the aircraft family can catapult it into the low end of a market now dominated by Boeing Co (BA.N) and Airbus EAD.PA.

    But firm orders for the CSeries are moderate so far at 177, as potential buyers wait for flight test results to validate the company’s claims about the new jetliner’s fuel efficiency and cost savings potential.

    Bombardier’s net profit fell to $147 million, or 8 cents per share, in the quarter ended September 30 from $172 million, or 9 cents per share, a year earlier.

    Revenue dipped marginally to $4.1 billion.

    Brazil’s Embraer SA (EMBR3.SA), the world’s third-largest commercial planemaker and Bombardier’s closest rival, reported a 10 percent fall in quarterly profit on Thursday.

    Reporting by Swetha Gopinath and Solarina Ho; Editing by Sriraj Kalluvila

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