May 31, 2023 By The Canadian Press
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.
- Economic growth beats expectations with 3.1% gain in Q1: StatCan
- Argentina Defense acquires six Bell 407GXi helicopters