UPDATE 3-Bombardier shares hit as margins, outlook disappoint

Thu Feb 21, 2013 4:30pm EST
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* First C-Series flight will take place by end of June

* Learjet 85 launch pushed back to summer 2014

* 2013 aerospace EBIT margins expected to be similar to 2012

* Fourth-quarter adjusted EPS $0.10 vs $0.13 year earlier

* Shares tumble 9 percent on Toronto Stock Exchange (Updates with analysts' comments, conference call and details)

By Solarina Ho

Feb 21 (Reuters) - Bombardier Inc reported quarterly results on Thursday that fell short of analysts' expectations and issued a disappointing 2013 outlook, sending shares of the Canadian aircraft and train maker down 9 percent.

The Montreal-based company's fourth-quarter profit tumbled 93 percent, pulled lower by charges for a plant closure and global job cuts in its rail division.

Earnings before financing expenses, financing income and income taxes, or EBIT before special items - a closely watched performance measurement - fell 67 percent, and margins in both its aerospace and transportation divisions slumped.   Continued...