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(1) Historically, Bombardier Aerospace has higher aircraft deliveries during the fourth quarter compared to the first three quarters of its fiscal year, generating higher revenues. (2) 

Bombardier Aerospace’s fourth quarter results of fiscal 2004 compared to fiscal 2003 mainly reflect increased business aircraft deliveries. Deliveries for the fourth quarter of fiscal 2003 reflect 14 less deliveries of Bombardier Learjet aircraft arising from the one-time negative impact of the decision to cease recognizing revenues on the sale of narrow-body aircraft upon green aircraft delivery. (3) 

Bombardier Transportation’s results for the fourth quarter of fiscal year 2004 and 2003 were negatively impacted due to revisions of estimates to complete certain contracts. In addition, results for the fourth quarter of fiscal year 2004 were negatively impacted by a charge of $139 million recorded in connection with an agreement reached with Amtrak to settle all outstanding claims in connection with the Acela high-speed trainset and locomotive contracts. (4) 

During the fourth quarter of the year ended January 31, 2004, the Corporation began expensing employee stock-based compensation with retroactive effect as of February 1, 2003. Figures for the first three quarters of fiscal year 2004 were not restated since the impact was not material. 

