December 1, 2011 / 11:14 AM / in 7 years

UPDATE 2-Bombardier profit up; slowdown hurting commercial aircraft

* Q3 EPS $0.11 vs $0.08 year ago

* Revenue rises 16 pct

* Free cash flow jumps more than three-fold to $346 mln (Adds details, shares)

Dec 1 (Reuters) - Bombardier Inc reported a 31 percent rise in quarterly profit, helped by strength at its plane- and train-making units, but said economic uncertainty in the United States and Europe continues to hurt demand for commercial aircraft.

Bombardier, the world’s third biggest commercial planemaker, reported a third-quarter net profit of $192 million, or 11 cents a share, compared with $147 million, or 8 cents a share, a year ago.

Revenue for the company, which is also the world’s No. 1 train maker, rose 16 percent to $4.62 billion.

Analysts, on average, had expected the company to earn 10 cents a share, on revenue of $4.53 billion, according to Thomson Reuters I/B/E/S.

Revenue at its aerospace division, which manufactures business, commercial and amphibious aircraft, was up 28 percent at $2.3 billion.

Revenue at Bombardier’s transportation division rose 5 percent to $2.3 billion.

The overall backlog was $55.3 billion as at Oct. 31, compared with $52.7 billion as at Jan. 31, the company said.

Free cash flow rose more than three-fold to $346 million.

Bombardier shares closed at C$3.78 on Wednesday on the Toronto Stock Exchange. (Reporting by Nicole Mordant in Toronto and Bhaswati Mukhopadhyay in Bangalore; Editing by Supriya Kurane)

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