Flight training company CAE Inc. topped expectations as it reported higher fourth-quarter profit and revenue compared with a year ago.
The Montreal-based company says it earned $122.3-million attributable to shareholders or 46 cents a share for the quarter ended March 31, compared with a profit of $82.3-million or 31 cents a share a year ago.
Revenue amounted to $1.02-billion, up from $720.9-million.
The increase came as civil aviation training revenue came to $593.4-million, up from $395.5-million a year ago, while defence and security revenue climbed to $387.9-million from $290.5-million. Health-care revenue rose to $40.7-million from $35.1-million.
Excluding specific items, CAE says it earned $127.5-million or 48 cents a share for the quarter, up from $82.3-million or 31 cents a share in the same quarter last year.
Analysts on average had expected a profit of 43 cents a share and $945.2-million in revenue, according to Thomson Reuters Eikon.