Bombardier results weaken on tough conditions in aircraft sector Last Updated Tue, 27 May 2003 16:23:25 MONTREAL - Bombardier Inc. (TSX:BBD.b) saw its profits fall sharply as company felt the brunt of the slowdown in the aircraft sector. The company made $80.7 million (5 cents a share), down from $197.2 million (14 cents a share) in the same quarter of last year. Bombardier posted revenues $4.94 billion, off from $5.06 billion a year ago. The company's aerospace division had revenues of $2.38 billion and a loss from continuing operations of $7 million. A year ago, the division had revenues $2.66 billion and profit from continuing operations of $158 million. As it struggled to cope with the slowdown in its business, Bombardier announced plans to sell several non-core assets, including the leisure products division on which the company was founded. "Although we have made good progress on the action plan announced on April 3, this first quarter has been extremely difficult and I am not satisfied with our results," Paul Tellier, the company's president and CEO, said. "The decline in the business aircraft market, unfavourable economic conditions and the continued uncertainty in the commercial aviation industry remain concerns," Tellier said. Written by CBC News Online staff *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Mas Site: www.tntisland.com/tntrecords/mas2003/ Site of the Week: http://www.caribbeanfloral.com TnT Webdirectory: http://search.co.tt *********************************************************