CAE Inc. reports second-quarter profit and revenue up from year ago

CAE Inc. reports second-quarter profit and revenue up from year ago
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MONTREAL — CAE Inc. says its second-quarter profit rose nearly 22 per cent from the same time last year as its civil aviation business led revenue growth.

The simulator and training company said it earned a profit attributable to shareholders of $73.8 million or 28 cents per share for the quarter, up from $60.7 million or 23 cents per share last year.

Revenue totalled $896.8 million, up from $743.8 million a year ago.

The growth came as revenue at CAE’s civil aviation business rose 35 per cent compared with a year ago to $529.9 million, while revenue at its defence and security business totalled $336.5 million, up five per cent from a year ago.

Health care revenue was $30.4 million, the same as a year ago.

Analysts on average had expected a profit of 25 cents per share and $849.9 million in revenue, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Nov. 13, 2019.

Companies in this story: (TSX:CAE)

The Canadian Press

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