Business

First Quarter Profit For Bombardier

Vicky Hunter - Jun 1, 2005 / 10:00 am | Story: 9793

An increase in aircraft deliveries and rail equipment orders boosted Bombardier Inc. to a first-quarter profit of $55 million US, compared with a loss of $174 million for the same period a year ago, the company announced Wednesday. Earnings per share were 3 cents, compared with a loss of 10 cents in the first quarter of 2004. The results beat analysts' estimates of 2 cents a share. Bombardier reports in U.S. dollars. Full story
A consortium that includes Brookfield Properties Corp. and the Canada Pension Plan Investment Board is buying O&Y Properties Corp. and O&Y Real Estate Investment Trust for approximately $2 billion. The deal, which was announced Wednesday, will see the consortium pay $13 per share for O&Y Properties. The limited voting units of O&Y REIT will also be redeemed for $15.50. Full story
Stelco Inc. cut its earnings guidance on Wednesday, warning that lower steel prices and higher energy costs will hurt its results. The steelmaker, which has been operating under creditor protection since January 2004, said its operating earnings "are now expected to be considerably below the level of the first quarter of 2005... " Full story

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