Investors Happy With CAE's Q4 Results

Investors were happy that CAE Inc CAE delivered better than the expected earnings, as well as revenue for the fourth quarter.

CAE reported net income from continuing operations attributable of was $61.2 million or $0.23 per share, down from C$63.3 million or C$0.24 per share in the same quarter last year. The company said that its net income before specific items was C$72.8 million, or C$0.27 per share, which represented an EPS growth of 13% over the same period preceding year. Street analysts expected the company to report earnings of $0.25 a share.

Its top line advanced 14 percent to C$722.5 million from C$631.6 million in the previous year quarter. Analysts' predicted $676.55 million revenue.

The company's President and CEO, Marc Parent, said, "CAE had strong performance in the fourth quarter and fiscal year overall, underscored by nearly $250 million of free cash flow generated over the course of the year. Growth was led by our Civil segment, which saw higher demand for our training solutions translate into 76% utilization of our training network and a 19.1% operating margin this quarter."

He continued, "On the order front, I am pleased with the high level of activity in all segments, including an annual record 53 full-flight simulator orders in Civil, and annual orders exceeding revenue in Defence for first time in four years. CAE's market position and $6.4 billion backlog bode well for long-term sustainable growth."

Shares of the company traded 1.57 percent higher on Thursday.