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CAE reports $26.2M Q3 profit, down from $48.8M a year ago, revenue up

MONTREAL — CAE Inc. says its profit in its latest quarter fell compared with a year ago as its revenue climbed higher.

The Montreal-based company says its net income attributable to equity holders fell to $26.2 million or eight cents per share for the quarter ended Dec. 31 compared with a profit of $48.8 million or 18 cents per share a year earlier.

Revenue in what was the company’s third quarter totalled $848.7 million, up from $832.4 million.

CAE says civil aviation training revenue was $390.1 million, down from $412.2 million a year earlier, while defence and security revenue was $426.5 million, up from $299.3 million. Health care revenue was $32.1 million, down from $120.9 million.

On an adjusted basis, CAE says it earned 19 cents per share for its most recent quarter, down from 22 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 19 cents per share, according to financial markets data firm Refinitiv.

News from © Canadian Press Enterprises Inc., 2021