CAE misses 4Q profit forecasts

AP News
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Posted: May 26, 2015 3:21 PM

MONTREAL (AP) — MONTREAL (AP) — CAE Inc. (CAE) on Tuesday reported fiscal fourth-quarter profit of $51.7 million (63.3 million CAD)

The Montreal-based company said it had profit of 19 cents (0.24 CAD) per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The civil and military flight simulator company posted revenue of $509.7 million (631.6 CAD) in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $508.5 million.

For the year, the company reported profit of $162.8 million (201.2. CAD), or 61 cents per share (76 CAD). Revenue was reported as $1.81 billion (2.25 billion CAD).

CAE reports its results in Canadian dollars.

CAE shares have decreased nearly 6 percent since the beginning of the year. The stock has fallen 9 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAE at http://www.zacks.com/ap/CAE

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Keywords: CAE, Earnings Report