Money world

Bombardier Inc. reported Thursday that its net income for the fiscal year ending Jan. 31 was $707 million, down from $1 billion the previous year.

Revenues fell from $19.7 billion to $19.4 billion and earnings per share were down from 56 cents to 39 cent during that same time.

The company’s aerospace division, which includes Bombardier Learjet in Wichita, had revenues decline to $9.4 billion, down from the $10 billion it reported at the end of its last fiscal year.

The group reported 11 net orders in fiscal year 2010, compared to 367 in the previous fiscal year.

Despite the decline in income and revenue, Bombardier’s president and CEO, Pierre Beaudoin, felt the company performed well.

“Against a challenging economic backdrop, we delivered good financial results,” he said in a press release. “We took the downturn as an opportunity to fine-tune the way we operate in order to execute better and cut costs intelligently.”

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