Bombardier Provides an Update on its Operations.MONTREAL--(BUSINESS WIRE)--Feb. 8, 1999--(ME:BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. .A.) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BBD.A.) (ME:BBD.B.) (TSE:BBD.B.) In the context of its fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. on January 31, 1999, Bombardier today provided an update on each of its main business segments. Aerospace This last fiscal year has once again been a record one for Bombardier Aerospace Bombardier Aerospace is a division of the Bombardier group, with the third largest workforce (behind Boeing and Airbus) and the fourth largest in yearly delivery of commercial airplanes (behind Boeing, Airbus and Embraer). both in terms of number of deliveries and new orders. In total, the number of aircraft deliveries reached 227 units in fiscal year 1998-99 compared to 178 for the same period last year. Of this number, there were 102 commercial aircraft delivered: 72 Canadair Regional Jet(i) and 30 Dash 8(i) Q turboprops. Deliveries of business aircraft were as follows: 10 Global Express(i), 39 Challenger(i) 604, 30 Learjet(i) 60, 13 Learjet 45 and 21 Learjet 31. As well, 12 Canadair 415(i) amphibious aircraft were delivered. Due to the success of its product line, Bombardier Aerospace received during the same period a record number of 248 firm orders for its various regional aircraft compared to 151 orders the previous year, of which 223 were for the Canadair Regional Jet, Series 100, 200 and 700. The business jet aircraft market has also been very favourable as demonstrated by the record number of deliveries during the fiscal year as well as by the 60 percent increase in the number of customers of the Business JetSolutions(i) fractional ownership program FlexJet(i) which went from 206 to 330. At January 31, 1999, the firm order backlog for Canadair Regional Jet and Dash 8 Q regional aircraft stood at 323 as opposed to 194 at January 31, 1998. Transportation Bombardier Transportation experienced a major revenue growth attributable to the consolidation of the accounts of Deutsche Waggonbau, of Berlin, Germany, acquired at the end of 1997-98, and to the sustained level of deliveries and work in process both in the European and North American operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. . Bombardier Transportation was awarded the largest order in its history, valued at $2.6 billion, for the supply to Virgin Rail of the United Kingdom of 352 cars and for the maintenance of rolling stock rolling stock Any of various readily movable transportation equipment such as automobiles, locomotives, railroad cars, and trucks. Rolling stock generally makes good collateral for loans because the equipment is standardized and easily transportable among over a 12-year period. Orders for the supply of light rail automated transportation systems for the John F. Kennedy "John Kennedy" and "JFK" redirect here. For other uses, see John Kennedy (disambiguation) and JFK (disambiguation). John Fitzgerald Kennedy (May 29, 1917–November 22, 1963), was the thirty-fifth President of the United States, serving from 1961 until his assassination in Airport in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and for the Vancouver metropolitan area are also among the major orders received during the period. The value of Bombardier Transportation's order backlog totalled approximately $9.4 billion at January 31, 1999, an increase of 44 percent over the previous year. Recreational Products Bombardier Recreational Products experienced a difficult year, marked during the last quarter by late snowfalls in most regions in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . The additional costs of special sales programs put in place to stimulate the snowmobile retail market had a negative impact on the group's results. As anticipated, the personal watercraft market experienced a further drop in total units sold. Even at this reduced level, the market is still very attractive and Bombardier continues to innovate and demonstrate its leadership. The new Sea-Doo(i) GTX GTX Gore-Tex GTX Global TeleExchange GTX Grand Tourisme Extra RFI (Radio Frequency Interference) High-frequency electromagnetic waves that emanate from electronic devices such as chips. RFI - Radio Frequency Interference model introduced last year was so successful that the Rotax(i) fuel injection technology, which reduces fuel consumption and gas emissions, has been extended to a second model this year and the sound reduction systems installed on the same model last year is now incorporated into most new models. Major investments were made during the period in product and market development of the all-terrain vehicles (ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. ), the neighborhood vehicle Bombardier NV(i) and the sport boat line of products. Undergoing its first market tests during the last few months, the Bombardier Traxter(i), launch model of the future line of ATV's, was reviewed very favourably by trade publications and was designated as the best ATV on the market by Popular Mechanics magazine. Bombardier Capital Bombardier Capital experienced a strong increase in its volume of financing, particularly following its expansion into retail financing and mortgage financing of manufactured homes. During the last fiscal year, Bombardier Capital has made substantial investments in control, credit scoring Credit scoring A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. and risk management systems required to prepare for the anticipated growth in several of its new business sectors. At January 31, 1999, Bombardier's order backlog was in excess of $23 billion, a major increase compared to a backlog of $18.1 billion at the end of the previous year. In light of this record backlog and of the performance of its various business segments, the Corporation views its last fiscal year as very successful. The financial results for fiscal 1998-99 will be released on April 13, 1999. Bombardier's revenues for its fiscal year ended January 31, 1998 totalled $8.5 billion. Bombardier Inc. is a Canadian corporation, active in the fields of aerospace, rail transportation equipment, recreational products, financial services and services related to its products and core businesses. It operates plants in 11 countries in North America and Europe and more than 88 percent of its revenues are generated outside Canada. (i) Registered trademarks of Bombardier Inc. and/or of its subsidiaries. |
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