Newly refocused around simulation and training, Canada's CAE saw third-quarter revenues rise 10% to C$235 million ($195 million) on higher utilisation of the company's civil flight training network. Earnings before interest and taxes rose 8% to C$22.2 million on a return to double-digit margins in its military business.
The figures exclude CAE's Marine Controls business, which is to be sold to L-3 Communications by year-end for C$276 million in cash and the assumption of $52 million in debt.
While the civil sector's revenues increased 18% on higher utilisation of CAE's global network of simulators, its earnings remained flat because of lower equipment sales.
Source: Flight International
