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Bombardier

Bombardier designs, manufactures, markets, and provides parts and maintenance for its large, long-range Global and medium-to-large Challenger aircraft families of business jets. Most of the company's revenue is generated in North America, with operations in Europe, North America, Asia-Pacific, and other markets.

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Unifor members at Bombardier continue strike after rejecting final offer, citing unresolved key union priorities; negotiations ongoing.





Unifor Members Persist With Bombardier Strike After Rejecting Final Offer

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Bombardier Reports 13% Rise In FQ1 Profit

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Bombardier Inc

Unifor, the Canadian workers&#8217; union, announced that its members at Bombardier Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BDRXF#OTC">BDRXF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BOMBF#OTC">BOMBF</a>) will persist with their strike following the business-jet manufacturer&#8217;s rejection of what it termed a final offer<a target="_blank" href="https://www.benzinga.com/markets" rel="noreferrer noopener">.</a>
&#8220;Both the union and the company will remain at the bargaining table and further updates on negotiations will be provided at the appropriate time,&#8221; <a target="_blank" href="https://www.unifor.org/news/all-news/bombardier-strike-continues-after-unifor-rejects-companys-final-offer" rel="noreferrer noopener">Unifor</a> said in a statement.&nbsp;
The union expressed caution as both parties remain apart on certain &#8220;key union priorities.&#8221;
&#8220;However, specific details of the negotiations will not be made public to protect the integrity of the bargaining process,&#8221; Unifor added.&nbsp;
Union locals 112 and 673 <a target="_blank" href="https://www.unifor.org/news/all-news/unifor-local-112-and-673-members-bombardier-strike" rel="noreferrer noopener">initiated</a> the strike at the company after negotiations failed to yield an agreement by June 22nd.
Reuters reported that the 1,350 workers from these units manufacture Bombardier&#8217;s long-range Global series aircraft at the Pearson International Airport facility in Toronto.
Yesterday, the union characterized the company&#8217;s offer as &#8220;insufficient,&#8221; noting significant differences in key union priorities, Reuters added.
Mark Masluch, a spokesperson for Bombardier, <a target="_blank" href="https://www.cbc.ca/news/business/unifor-strike-bombardier-1.7244224" rel="noreferrer noopener">told</a> CBC News that the collective goal is to &#8220;swiftly reach a mutually beneficial agreement.&#8221;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Dollar General Corp (NYSE: <a class="ticker" href="/stock/dg#NYSE">DG</a>) reported a 15% rise in its fiscal first-quarter profit on Wednesday. Dollar General reported its quarterly earnings at $157 million, or $0.45 per share, up from $136 million, or $0.39 per share, in the year-earlier period. Its adjusted net income surged to $0.48 per share, from $0.42 per share. DG's sales increased 10.9% to $3.45 billion. Its sales at stores open at least a year, or same-store sales, surged 5.4%. However, analysts were expecting earnings of $0.50 per share on revenue of $3.42 billion. Dollar General continues to project adjusted 2011 earnings of $2.20 to $2.30 per share, versus analysts' estimates of $2.26 per share.

Daktronics Inc (NASDAQ: <a class="ticker" href="/stock/dakt#NASDAQ">DAKT</a>) reported upbeat fiscal fourth-quarter earnings. Daktronics reported its FQ4 net income at $3.0 million, or $0.07 per share, versus a net loss of $4.9 million, or $0.12 per share, in the year-ago period. Its net sales came in at $114.4 million, up from $92.0 million, in the year-earlier period. However, analysts were expecting earnings of $0.05 per share on revenue of $106.25 million. Daktronics' backlog at the end of the fiscal 2011 fourth quarter was around $131 million, versus around $127 million, in the year-earlier period. 

Jos. A. Bank Clothiers Inc (NASDAQ: <a class="ticker" href="/stock/josb#NASDAQ">JOSB</a>) reported a 13% rise in its fiscal first-quarter net profit on Wednesday. JOSB reported its quarterly net profit at $17.8 million, or $0.64 per share, up from $15.8 million, or $0.57 per share, in the year-earlier period. Its sales surged 8.5% to $193.3 million. JOSB's comparable store sales rose 0.1%. However, analysts were expecting earnings of $0.65 per share on sales of $194.8 million.

Bombardier Inc (OTC: <a class="ticker" href="/stock/bdrxf#OTC">BDRXF</a>) reported a 13% rise in its fiscal first-quarter profit on Wednesday. Bombardier reported its quarterly profit at $220 million, or $0.12 per share, up from $194 million, or $0.11 per share, in the year-earlier period. The company's sales climbed 9.3% to $4.66 billion. The company's overall backlog surged to $55.1 billion from $52.7 billion at the end of January. 

REX American Resources Corporation (NYSE: <a class="ticker" href="/stock/rex#NYSE">REX</a>) reported its FQ1 net income at $4.7 million, or $0.49 per share, up from $4.2 million, or $0.42 per share, in the year-ago period. Its income from continuing operations net of tax attributable to REX shareholders came in at $4.1 million, or $0.43 per share, up from $3.7 million, or $0.36 per share, in the year-ago period. REX's Q1 revenue surged 13.9% to $81.2 million from $71.3 million. 

Wolseley PLC (OTC: <a class="ticker" href="/stock/wosyy#OTC">WOSYY</a>) reported a 30% rise in its trading profit for the third quarter ending April 30 on Wednesday. Wolseley reported its trading profit at 131 million pounds ($215.5 million), up from 101 million pounds, in the year-earlier period. Its revenue increased 1% to 3.27 billion pounds, and increased 6% on a comparable basis. Wolseley's adjusted net debt dropped to 824 million pounds, from 1.34 billion pounds, in the year-earlier period.

Read more <a href="http://www.benzinga.com/markets">from Benzinga's Markets.</a>

Bombardier Inc (OTC: BDRXF) reported a 13% rise in its fiscal first-quarter profit on Wednesday. 

Bombardier reported its quarterly profit at $220 million, or $0.12 per share, up from $194 million, or $0.11 per share, in the year-earlier period. The company's sales climbed 9.3% to $4.66 billion. The company's overall backlog surged to $55.1 billion from $52.7 billion at the end of January.

Bombardier shares gained 0.06% to close at $24.98 yesterday.

Read more <a href="http://www.benzinga.com/markets/company-news">from Benzinga's Company news.</a>

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