CAE Inc. (CAE), a Canadian manufacturer of simulation technologies, Wednesday reported higher earnings for the fourth quarter compared to the previous year, supported by 32 percent growth in revenue.
Quarterly earnings surged 79 percent to C$98.4 million or C$0.31 per share from C$55.1 million or C$0.17 per share in the same quarter of last year. Adjusted earnings were C$0.35 per share.
On average, 12 analysts polled by Thomson Reuters expected earnings of C$0.34 for the year. Analysts' estimates typically exclude special items.
Operating income increased significantly by 100 percent to C$186.6 million from C$93.3 million in the previous year.
Revenue increased 32 percent to C$1.256 billion from C$955 million of last year.
The Street estimate for revenue was C$1.2 billion for the quarter.
On Tuesday, shares of CAE closed at C$29.91, down 0.27% or C$0.08 on the Toronto Stock Exchange.
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