CAE profits drop as Iran war takes a toll on demand for pilot training - BNN Bloomberg
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Article Excerpt
MONTREAL — CAE Inc. says profits plunged in its latest quarter amid conflict in the Middle East, even as revenues ticked up. The flight simulator maker says net income attributable to shareholders sank 46 per cent year-over-year to $73.1 million in the three months ended March 31 from $135.9 million in the same period last year. The Montreal-based company says fourth-quarter revenues rose four per cent to $1.33 billion from $1.28 billion a year earlier. On an adjusted basis, earnings decreased to 42 cents per share in the quarter from 47 cents per share, roughly in line with analysts’ expectat…
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