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Bombardier Reports Strong 1Q Earnings

Third-largest maker of civilian commercial aircraft said profits rose to $220 million and revenues increased 9 percent due to recovery in business-jet market.

TORONTO (AP) -- Bombardier Inc., the world's third-largest maker of civilian commercial aircraft, said Wednesday first-quarter profits rose to $220 million and revenues increased 9 percent due in part to a recovery in the business-jet market.

The Montreal-based plane and train maker said net income was equal to 12 cents per share, above analyst expectations of 10 cents per share.

A year earlier, the company had reported weaker profits of $195 million, or 11 cents per share.

Revenues increased to $4.7 billion, stronger than expectations according to a poll by Thomson Reuters, and above $4.3 billion a year ago.

"Bombardier Aerospace has started to benefit from a stronger business aircraft market, especially at the high end," President and CEO Pierre Beaudoin said. "Our commercial aircraft segment, although slower to recover, is seeing an improved level of interest from customers."

Bombardier booked 77 business jet net orders, up from six a year earlier. Deliveries of commercial planes rose to 23 from 16.

Bombardier also said Wednesday that Braathens Leasing Limited, a member of Braathens Aviation of Sweden, has placed a firm order for five Bombardier CS100 and five CS300 mainline jetliners.

Investors are looking to see how many orders Bombardier gets for its much-touted C-Series single-aisle plane. Bombardier currently has 100 firm orders for the C-Series, which launched in 2008 and is due for its first delivery in 2013.

Bombardier eventually hopes to capture half the global market for 100-149 seat planes and is marketing its touted C-Series single-aisle plane as being 20 percent more fuel-efficient than the comparable Airbus A320 and Boeing 737 family of aircraft.

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