Bombardier says CSeries on track; adjusted profit rises

Thu May 9, 2013 6:12am EDT
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May 9 (Reuters) - Bombardier Inc, the world's No. 4 commercial aircraft maker, said on Thursday its CSeries jetliner was on track to make its first flight in June, and reported a 4 percent rise in first-quarter adjusted profit.

The single-aisle plane, with seating for up to 160 passengers, represents the Canadian company's attempt to break into the lower end of the lucrative 100-to-200-seat aircraft market dominated by Boeing Co and Airbus.

The CSeries tests are progressing well, the company said.

Bombardier, which is also the world's biggest train manufacturer, said its first-quarter net profit fell to $148 million, or 8 cents per share, from $155 million, or 8 cents per share, a year earlier.

On an adjusted basis, net income rose to $156 million from $150 million a year earlier.