MONTREAL — Flight training company CAE Inc. topped expectations as it reported higher fourth-quarter profit and revenue compared with a year ago.
The Montreal-based company says it earned $122.3 million attributable to shareholders or 46 cents per share for the quarter ended March 31, compared with a profit of $82.3 million or 31 cents per share a year ago.
Revenue totalled $1.02 billion, up from $720.9 million.
The increase came as civil aviation training revenue totalled $593.4 million, up from $395.5 million a year ago, while defence and security revenue climbed to $387.9 million from $290.5 million. Health care revenue rose to $40.7 million from $35.1 million.
Excluding specific items, CAE says it earned $127.5 million or 48 cents per share for the quarter, up from $82.3 million or 31 cents per share in the same quarter last year.
Analysts on average had expected a profit of 43 cents per share and $945.2 million in revenue, according to Thomson Reuters Eikon.
Companies in this story: (TSX:CAE)
The Canadian Press