Flight simulator and training company CAE Inc. earned $40.7-million in the third quarter of its fiscal year as it began to see the benefits of a recovery in the commercial aerospace sector.
The Montreal-based company earned 16 cents per share for the period ended Dec. 31. That was up one cent from last year when profits were $37.7-million.
Excluding a restructuring charge, last year's profit was $40.3-million or 16 cents per share.
Analysts had expected that adjusted earnings would remain steady at 16 cents per share, but forecast $296-million of revenue, according to Thomson Reuters.
Revenue increased 7 per cent to $411.3-million.
More than $500-million of new orders increased its backlog to $3.2-billion.