MONTREAL --- CAE today reported financial results for the third quarter ended December 31, 2006. Net earnings were $29.7 million ($0.12 per share) this quarter, compared to $17.4 million ($0.07 per share) in the third quarter of last year. All financial information is in Canadian dollars.
Net earnings from continuing operations, excluding non-recurring items, were $32.0 million ($0.13 per share) this quarter, compared to $23.5 million ($0.09 per share) in the same quarter of last year. Net earnings for the quarter were $29.7 million, a 71% increase year over year.
Consolidated revenue was $331.2 million, $54.6 million higher than the third quarter of 2006.
Third-quarter consolidated earnings before interest and taxes (EBIT) were $44.2 million, or 13.3% of revenue. This percentage is lower this quarter than in the second quarter due mainly to a higher than average operating margin for the Simulation Products/Civil segment in Q2 and because of higher restructuring costs this quarter. Not including the effect of non-recurring items, EBIT was $47.0 million, or 14.2% of revenue.
"Our financial results for the third quarter continue to reflect our renewed competitive position and our improved profitability", said Robert E. Brown, CAE's President and Chief Executive Officer. "Healthy aerospace industry conditions are presenting us with a number of growth opportunities, and we are continuing to build on our strengths as a technology and training services leader in both the civil and military markets." (end of excerpt)
Click here for the full press release, on the CAE website.
CAE Reports Third Quarter Results for Fiscal Year 2007 (Excerpt)