August 11, 2010 / 1:52 PM / 8 years ago

UPDATE 1-CAE profit in line, raises dividend

* Q1 EPS C$0.15 vs C$0.11 a year earlier

* Analysts forecast EPS C$0.15

* Revenue falls 4 percent to C$366.7 mln

TORONTO, Aug 11 (Reuters) - Flight simulator maker and aviation training company CAE Inc (CAE.TO) posted a higher quarterly profit on Wednesday and it increased its dividend based on prospects from the market recovery.

Profit in its first fiscal quarter that ended June 30, was C$39.4 million ($37.9 million), or 15 Canadian cents a share. That was up from C$27.2 million, or 11 Canadian cents a share, a year earlier, when the company recorded an after-tax restructuring charge of C$18.9 million.

Revenue at the Montreal-based company, which caters to civil and military markets, fell 4 percent to C$366.7 million.

Analysts, on average, had forecast a profit of 15 Canadian cents a share, according to Thomson Reuters I/B/E/S.

“We are in the early stages of a market recovery and I am encouraged that in our first quarter we saw higher demand for civil training,” Marc Parent, CAE’s president and chief executive, said in a statement.

The company said it expects 10 percent to 12 percent revenue growth for the year in its military segment.

Parent said that based on “confidence in CAE’s business model and prospects,” CAE increased its quarterly dividend to 4 Canadian cents a share from 3 Canadian cents a share.

CAE closed the quarter with a backlog of C$3.11 billion in orders, down from C$3.28 billion a year earlier. ($1=$1.04 Canadian) (Reporting by John McCrank, editing by Maureen Bavdek)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below