CAE Inc. increased its adjusted earnings outlook for the fiscal year to $1.28 to $1.35 per share after reporting lower net income for the three months ended Sept. 30.
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CAE Inc. says it is raising its adjusted earnings forecast for the fiscal year even though its profits fell in its most recent quarter.
The Montreal-based flight simulator maker increased its expected adjusted earnings to between $1.28 and $1.35 per share, up from its prior range of $1.21 to $1.28 per share.
For the three months ended Sept. 30, CAE reported net income attributable to shareholders of $58.6 million, down 20.7 per cent from $73.9 million for the same period a year earlier.
CAE also reported second-quarter revenues of $1.20 billion, a 2.6 per cent decrease year over year from $1.24 billion.
On an adjusted basis, the company said earnings rose to 33 cents per share from 28 cents per share in the prior year’s quarter.
CEO Matthew Bromberg said CAE remains focused on continuing a year-old transformation plan aimed at drastically reducing the manufacturer’s global footprint by the end of the year.
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