CAE corporate headquarters are shown in Montreal on Aug. 10, 2016.Graham Hughes/The Canadian Press
CAE Inc. says its third-quarter profit fell compared with a year ago as revenue also edged lower.
The flight simulator manufacturer and training company says it earned a profit of $77.6 million attributable to shareholders or 29 cents per share for the quarter.
Analysts on average had expected a profit of 32 cents per share, according to Thomson Reuters Eikon.
The result was down from $143.8 million attributable to shareholders or 53 cents per share a year earlier when the company benefited from US tax reform and a gain on the valuation of its investment in the Asian Aviation Centre of Excellence.
Excluding the impact of the U.S. tax reform and the valuation gain, CAE would have earned $102.7 million or 38 cents per share a year ago.
Revenue totalled $816.3 million, down from $828.2 million.