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Nov 13, 2018

CAE profit rises amid growth in aviation training units

Bombardier slashing 5,000 jobs as overhaul continues

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MONTREAL -- Flight simulator company CAE Inc. (CAE.TO) says its second-quarter profit and revenue increased compared with a year ago.

The Montreal-based firm says its net income attributable to shareholders was $60.7 million for the quarter ended Sept. 30, up one per cent from $60.3 million from the same period a year ago.

The profit amounted to 23 cents per share compared with 22 cents per share for the same period a year earlier.

Revenue for the three-month period totalled $743.8 million, up by 20 per cent from $618.2 million in the same quarter the previous year.

The company attributed the performance to growth in its civil and defence aviation training divisions.

Last week, CAE announced it was acquiring Bombardier's (BBDb.TO) business aircraft training business for an enterprise value of US$645 million.