November 11, 2009 / 2:07 PM / in 8 years

UPDATE 1-CAE profit drops on weak civil aviation demand

* EPS C$0.16 vs consensus view C$0.15

* Revenue fell 10.4 percent to C$364.5 million

TORONTO, Nov 11 (Reuters) - Flight simulator maker and aviation training company CAE Inc (CAE.TO) CAE.N posted a lower quarterly profit on Wednesday, as restructuring charges and weak demand from its civil aviation customers weighed on its results.

CAE said profit for its second quarter, ended Sept. 30, was C$39.1 million ($37.4 million), or 15 Canadian cents a share, down from C$49 million, or 19 Canadian cents a share, a year earlier.

The Montreal-based company recorded a restructuring charge of C$1.1 million during the quarter, mainly due to severance and other costs, including pension expenses.

Excluding restructuring charges, CAE said it earned C$39.9 million, or 16 Canadian cents a share.

The company said revenue fell 10.4 percent to C$364.5 million in the quarter.

Analysts, on average, had forecast a profit of 15 Canadian cents a share, on revenue of C$395.8 million according to Thomson Reuters I/B/E/S. ($1=$1.04 Canadian) (Reporting by Scott Anderson, editing by Dave Zimmerman)

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