Financial news release example

Client                Bombardier Inc

This company is a world class aerospace and transportation company.  In 2004, after the turbulence in the airline industry, it was struggling with a massive turnaround and facing investor pressures.

Comment          Bombardier had issued its quarterly press releases the same way for years.  Our first task was to turn this library format into a financial news release – i.e. a reader-oriented format a news editor would want to publish

                        Here’s the before and after

BEFORE (Q1 release)       

Bombardier Announces Financial Results For First Quarter Ended April 30, 2004

 And Provides Update On Progress Of Business Restructuring

Bombardier Inc. today released financial results for the first quarter of fiscal year 2005. Significant contract adjustments at Bombardier Transportation contributed largely to the Corporation’s loss per share of $0.10, despite increased revenues and improved free cash flow.  

“At Bombardier Transportation, results have been impacted in a major way by contract adjustments in specific areas of the business, mainly in the Total Transit Systems division, in connection with new technical issues and cost overruns, which led to the deterioration of contract margins during the quarter,” said President and Chief Executive Officer Paul M. Tellier.

Etc……..

AFTER   (Q2 release)

Bombardier Regains Profitability in Second Quarter

Global transportation leader Bombardier Inc. has returned to profitability halfway through its three-year restructuring program.

Second quarter financial results announced today present consolidated earnings before taxes (EBT) of $44 million, compared to negative $209 million in the first quarter of the current fiscal year. Consolidated revenues rose 10% to reach $3.9 billion compared to $3.5 billion in the first quarter of this fiscal year.

“Overall, we are where we expected to be at this most challenging and crucial phase of our three-year plan," said Paul M. Tellier, President and Chief Executive Officer.

 “We are back in the black, our free cash flow performance is significantly improved over what it was last year, we have a sound balance sheet, access to strong capital resources and therefore, strong liquidity.”

Etc……