Canadian planemaker Bombardier Inc
The company, which is the world's No. 3 civil aircraft maker, said it sees delivering about 15 percent less business aircraft and 20 percent fewer commercial aircraft in fiscal year 2011.
The company said it resumed flight testing on its CRJ1000 NextGen aircraft in February and expects its entry into service in the second half of 2010.
The CSeries, CRJ, CRJ1000, Learjet and NextGen are trademarks of Montreal-based Bombardier and its subsidiaries.
The company, which is also the world's No. 1 passenger train maker, earned $179 million, or 10 cents a share, compared with $312 million, or 17 cents, a year ago.
Revenue fell to $5.35 billion from $5.43 billion.
Analysts on average expected earnings of 11 cents a share on revenue of $5.35 billion, according to Thomson Reuters I/B/E/S.
Revenue from the company's aerospace unit was $2.7 billion, compared with $2.8 billion, a year ago.
The company has seen weaker spending on big-ticket items like new aircraft as businesses wait for the global economy to return to more solid footing.
The aerospace unit received 33 net orders during the quarter, compared with six a year ago.
The company's transportation segment revenue was flat at $2.7 billion during the quarter.
Bombardier's order backlog stood at $43.8 billion, compared with $48.2 billion, a year ago.
Aircraft deliveries totaled 86, compared with 93 for the same period the previous year.
Bombardier's class B shares closed at C$6.23 Wednesday on the Toronto Stock Exchange.
(Reporting by Ashutosh Joshi and Bhaswati Mukhopadhyay in Bangalore; Editing by Maju Samuel)