Thursday, June 01, 2017

CAE sees record year for civil training sales

Flight simulator and training service provider sold 50 full flight simulators (FFS) during its 2017 fiscal year, the Canadian company reported in its annual and fourth-quarter results released May 31.
For its full fiscal year, ended March 31, CAE posted net income of C$252 million ($186 million) on revenue of C$2.7 billion. Revenue grew 8% year-on-year. Net income before special items was C$28 million, a 20% increase over fiscal 2016.
For the 2017 fiscal fourth quarter, CAE reported revenue of C$734.7 million, a 2% increase, on net income of C$67.4 million, and C$82.4 million before special items.
Fourth-quarter civil business revenue was C$417.8 million, up 6%, and operating income was C$83.8 million, up 12% compared to the fourth quarter last year.
The civil business booked a record $1.7 billion in orders during the year, including 50 FFS sales and long-term training agreements with airlines including Vietnam Airlines and Jet Airways.
31/05/17 Karen Walker/ATWonline