Skip navigation

  1. Try the new Globe Investor beta site

    We're building you a new Globe Investor that is smarter, faster and easier to use.
    We'll be rolling out new sections, features and tools over the coming months.

  3. Check out these features:

News from Reuters

CAE profit drops on weak civil aviation demand

11/11/09

TORONTO (Reuters) - Flight simulator maker and aviation training company CAE Inc posted a lower quarterly profit on Wednesday, as restructuring charges and weak demand from its civil aviation customers weighed on its results.

CAE said profit for its second quarter, ended September 30, was C$39.1 million ($37.4 million), or 15 Canadian cents a share, down from C$49 million, or 19 Canadian cents a share, a year earlier.

The Montreal-based company recorded a restructuring charge of C$1.1 million during the quarter, mainly due to severance and other costs, including pension expenses.

Excluding restructuring charges, CAE said it earned C$39.9 million, or 16 Canadian cents a share.

The company said revenue fell 10.4 percent to C$364.5 million in the quarter.

Analysts, on average, had forecast a profit of 15 Canadian cents a share, on revenue of C$395.8 million according to Thomson Reuters I/B/E/S.

($1=$1.04 Canadian)

(Reporting by Scott Anderson, editing by Dave Zimmerman)

© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.


 

Back to top