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CAE Reports Record Results

CAE Montreal

CAE today reported revenue of $1.0 billion for the fourth quarter of fiscal year 2019, up 42% from the fourth quarter last year. Net income before specific items in the fourth quarter was $127.5 million ($0.48 per share), which represents a 55% EPS increase over the same period last year.

Annual fiscal 2019 revenue was $3.3 billion, up 17% from the prior year. Before specific items, net income was $335.2 million ($1.25 per share) this year, compared to $297.9 million ($1.11 per share) last year, which represents a 13% EPS increase over the same period last year. All financial information is in Canadian dollars.

“We had a strong finish to fiscal year 2019, with fourth quarter revenue up 42% and earnings per share up 55% compared to last year; and for the year as a whole, CAE delivered a record performance, meeting our annual outlook, and further establishing itself as the worldwide leader in aviation training,” said Marc Parent, CAE’s President and Chief Executive Officer. “Annual revenue grew 17% and earnings per share grew 13% compared to last year, and we generated strong free cash flow”, he continued.   

Fourth quarter Civil revenue was $593.4 million, up 50% compared to the same quarter last year, and

Annual revenue was $1.9 billion, up 15% year-over-year.  Fourth quarter Defence revenue was $387.9 million, up 34% compared to the same quarter last year and Annual Defence revenue was $1,306.7 million, up 21% year-over-year.  As well, fourth quarter Healthcare revenue was a record $40.7 million, up 16% compared to the same quarter last year, and Annual revenue was $121.6 million compared to $115.2 million year-over-year.

Management outlook for fiscal year 2020

CAE’s core markets benefit from secular growth and the Company expects to continue exceeding underlying market growth in fiscal year 2020. Civil expects operating income to grow in the upper 20 percent range on continued strong demand for its training solutions, including maintaining a leading share of FFS sales, and the integration of the recently acquired Bombardier BAT Business. In Defence, the Company expects mid to high single-digit percentage operating income growth as it delivers from backlog and continues to win opportunities from a large pipeline. CAE expects Healthcare to achieve double-digit growth under its new leadership, expanded salesforce, and the continued lau

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