CAE’s Profit Grows 79% As Demand For Flight Simulators Increases
CAE reported fiscal Q4 revenue of $1.26 billion, up 32% from $955 million a year earlier.
The company’s net income, or profit, came in at $98.4 million or $0.31 per share, up 79% from $55.1 million or $0.17 per share a year ago.
The strong earnings come as demand for the company’s flight simulators rises along with the need to train new airline pilots around the world, including in Canada and the U.S.
CAE said that its civil aviation revenue totalled $661.4 million in the quarter, up 53% from $432.7 million a year earlier.
Revenue in the company’s defence and security unit totaled $536 million for the three months ended March 31, up 14% from $469.5 million a year ago.
CAE’s stock has risen 4% year-to-date and is currently trading at $27.75 per share.
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