CAE reports $26.2M Q3 profit, down from $48.8M a year ago, revenue up

MONTREAL – CAE Inc. says its profit in its latest quarter fell compared with a year ago as its revenue climbed higher.

The Montreal-based company says its net income attributable to equity holders fell to $26.2 million or eight cents per share for the quarter ended Dec. 31 compared with a profit of $48.8 million or 18 cents per share a year earlier.

Revenue in what was the company’s third quarter totalled $848.7 million, up from $832.4 million.

CAE says civil aviation training revenue was $390.1 million, down from $412.2 million a year earlier, while defence and security revenue was $426.5 million, up from $299.3 million. Health care revenue was $32.1 million, down from $120.9 million.

On an adjusted basis, CAE says it earned 19 cents per share for its most recent quarter, down from 22 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 19 cents per share, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 11, 2022.

Companies in this story: (TSX:CAE)