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CAE posts third-quarter profit of $43-million, result tops expectations

A CAE simulator showing the cockpit of a Hainan Airlines B737-800W Engine CFM56-7B26, seen at the Shangai airport, at their headquarters in Montreal, December 14, 2015.

christinne muschi The Globe and Mail

CAE Inc. on Wednesday reported fiscal third-quarter profit of $43.2-million (U.S.).

On a per-share basis, the Montreal-based company said it had net income of 16 cents. Earnings, adjusted for restructuring costs and to account for discontinued operations, were 17 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

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The civil and military flight simulator company posted revenue of $461.7-million in the period.

CAE shares have declined slightly more than 7 per cent since the beginning of the year. The stock has dropped 16 per cent in the last 12 months.

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