CAE reports revenue up nearly 40% over 2020
Flight simulator company overcomes prior year loss with Q1 2022 profit.
The simulator and training company says its profit attributable to equity holders was $46.4 million or 16 cents per diluted share for the quarter ended June 30 compared with a loss of $110.6 million or 42 cents per diluted share last year.
Revenue in what was the first quarter of the company’s 2022 financial year totalled $752.7 million, up from $550.5 million a year earlier.
Civil aviation revenue rose to $432.9 million from $248.0 million a year ago, while defence and security revenue climbed to $288.2 million from $280.2 million. Healthcare revenue increased to $31.6 million from $22.3 million in the same quarter last year.
On an adjusted basis, CAE says it earned 19 cents per share for the quarter compared with an adjusted loss of 11 cents per share in the same quarter last year.
Analysts on average had expected an adjusted profit of 17 cents per share and $765.4 million in revenue, according to financial market data firm Refinitiv.