UPDATE 4-Bombardier outlook disappoints, new Learjet delayed

Thu Feb 21, 2013 7:02pm EST
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* 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

* First C-Series flight will take place by end of June (Updates with new comments, details)

By Solarina Ho

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

The company added to investors' disappointment by announcing it was pushing back the first delivery of its Learjet 85 business aircraft to the summer of 2014 from its previous target of late 2013. It was the second time since November it delayed a major aircraft program.

Before Thursday's pullback, Bombardier stock had jumped 37 percent since late November when the company signed a record $7.8 billion deal with Swiss charter operator VistaJet. On Wednesday, it won a deal that could be worth as much as $3.42 billion for its new C-Series large commercial jets.   Continued...