CAE reports fourth-quarter profit and revenue up from year ago
By The Canadian Press on May 31, 2023.
MONTREAL – CAE Inc. reported its fourth-quarter profit rose compared with a year ago as its revenue climbed more than 30 per cent. The flight simulator company says it earned net income attributable to equity holders of $98.4 million or 31 cents per diluted share for the quarter that ended March 31, up from $55.1 million or 17 cents per diluted share a year earlier. Revenue in the quarter totalled $1.26 billion, up from $955.0 million in the same quarter last year. The increase came as CAE says its civil revenue totalled $661.4 million in the quarter, up from $432.7 million a year earlier, while its defence and security revenue amounted to $536.0 million, up from $469.5 million. Health care revenue totalled $59.1 million, up from $52.8 million a year earlier. On an adjusted basis, CAE says it earned 35 cents per share, up from an adjusted profit of 17 cents per share a year earlier. Analysts on average had expected an adjusted profit of 34 cents per share, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first published May 31, 2023. Companies in this story: (TSX:CAE) 9-8
