CAE Q1 Profit Falls
(RTTNews) - CAE Inc. (CAE) on Wednesday reported a drop in profit for the first quarter despite higher revenue, as restructuring costs weighed on results.
CAE first-quarter net income attributable to equity holders fell to C$31.0 million, or C$0.10 per share, from C$57.2 million, or C$0.18 per share, in the year-ago quarter.
Adjusted earnings per share were C$0.26, unchanged from the prior-year quarter.
Revenue increased 6.8% to C$1.173 billion from C$1.099 billion last year.
Civil Aviation revenue rose 5.6% to C$641.6 million, while Defense and Security revenue increased 8.3% to C$531.8 million.
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