Canadian aviation-training and simulation products provider CAE Inc. (CAE,CAE.TO) reported that its fourth-quarter net income attributable to equity holders was C$43.8 million or C$0.17 per share down from C$53.2 million or C$0.21 per share last year.
Excluding C$10.1 million of restructuring, integration and acquisition costs this quarter, net income attributable to equity holders was C$53.9 million or C$0.21 per share. Analysts polled by Thomson Reuters expected the company to report earnings of C$0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter was C$587.9 million, 16% higher than C$506.7 million in the fourth quarter last year. Twelve analysts had consensus revenue estimate of C$586.08 million for the quarter.
CAE said it will pay a dividend of C$0.05 per share effective June 28, 2013 to shareholders of record at the close of business on June 14, 2013.
"Our results for the quarter and the year reflected our integration of new businesses and restructuring of Civil and Military operations…. "Backlog exceeded $4 billion for the first time in CAE's history, with a high proportion involving recurring services. In Civil Products, we had a strong finish to the year, meeting our mid-30s full-flight simulator order outlook. With continued high levels of aircraft deliveries, we expect strong demand for civil full-flight simulators again in fiscal 2014." said Marc Parent, CAE's President and Chief Executive Officer.
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