Bombardier today announced the release of its opening statement of financial position as at February 1, 2010, as well as its first and second quarter results of fiscal year 2010-11 (year ending January 31, 2011), based on IFRS. As previously announced, Bombardier will be reporting on June 1, 2011 its first full set of consolidated financial statements prepared under IFRS, starting with the first quarter of fiscal year 2011-12.
The reporting change does not affect the fundamentals of Bombardier. However, it does mean that some elements of the statement of financial position and results of operations will be calculated using a different set of rules and thus, will differ from those that were reported according to Canadian General Accepted Accounting Principles (GAAP).
Bombardier also intends to request approval from its Board of Directors in December 2011, to henceforth change the Corporation’s financial year-end from January 31 to December 31.
To better understand the impacts this reporting change will have on the Corporation’s consolidated financial statements, management from Bombardier Inc. will hold today an information session intended for investors and financial analysts. This session will be held in English only.
The information session will be broadcast live on the Internet at www.bombardier.com.
|DATE:||Wednesday, January 19, 2011|
|TIME:||8:30 a.m. to 12:30 p.m., Eastern Standard Time|
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended January 31, 2010, were $19.4 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.
Senior Director, Investor Relations