CAE posts third quarter fiscal 2020 net income of CA$97.7 million

CAE has reported revenue of CA$923.5 million for the third quarter of fiscal 2020, compared with CA$816.3 million in the third quarter last year. Third-quarter net income attributable to equity holders was CA$97.7 million ($0.37 per share) compared to CA$77.6 million ($0.29 per share) last year. Net income before specific items in the third quarter of fiscal 2020 was US$98.0 million.

Third-quarter segment operating income was CA$154.9 million (16.8% of revenue) compared with CA$113.0 million (13.8% of revenue) in the third quarter of last year. Segment operating income before specific items in the third quarter of fiscal 2020 was CA$155.3 million (16.8% of revenue).

Third-quarter Civil revenue was CA$558.1 million, up 22% compared to the same quarter last year. Segment operating income was CA$123.0 million (22.0% of revenue) compared to CA$87.2 million (19.0% of revenue) in the third quarter last year. Third-quarter segment operating income before specific items was CA$123.4 million (22.1% of revenue), up 42% compared to the third quarter last year. During the quarter, Civil delivered 12 full-flight simulators (FFSs) to customers and third-quarter Civil training centre utilization was 70%.

During the quarter, Civil signed training solutions contracts valued at CA$706.2 million, including a long-term pilot training agreement with JetSmart Airlines, and 17 FFSs, for 37 sales in the first nine months of the year. Since the beginning of January, Civil received orders for seven FFSs, including six for the Boeing B737MAX aircraft, bringing total current year-to-date FFS sales to 44. (US$1.00 = CA$1.33 at time of publication.)

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