Paul Chiasson
Flight simulator maker and aviation training company CAE Inc. posted a lower quarterly profit Wednesday, as restructuring charges and weak demand from its civil aviation customers weighed on its results.
CAE said profit for its second quarter, ended Sept. 30, was $39.1-million, or 15 cents a share, down from $49-million, or 19 cents, a year earlier.
The Montreal-based company recorded a restructuring charge of $1.1-million during the quarter, mainly due to severance and other costs, including pension expenses.
Excluding restructuring charges, CAE said it earned $39.9-million, or 16 cents a share.
The company said revenue fell 10.4 per cent to $364.5-million in the quarter.
Analysts, on average, had forecast a profit of 15 cents a share, on revenue of $395.8-million according to Thomson Reuters I/B/E/S.