Bombardier reports US$296M second-quarter loss due to restructuring costs

MONTREAL - Bombardier Inc. (TSX:BBD.B) reported a US$296-million loss in its latest quarter as it was hit by restructuring costs.

The aircraft and train maker, which keeps its books in U.S. dollars, says the loss amounted to 13 cents per share for the quarter ended June 30 compared with a loss of $490 million or 24 cents per share in the same quarter a year ago.

Revenue for what was the company's second quarter slipped to $4.09 billion compared with nearly $4.31 billion a year ago.

The results in the latest quarter included $287 million in special charges compared with $357 million in special items a year ago.

On an adjusted basis, Bombardier says it earned $39 million or two cents per share for the quarter compared with a loss of $83 million or six cents per share a year ago.

The company also announced that former auditor general Sheila Fraser has resigned from the board of directors for personal reasons

Let's block ads! (Why?)