ST-LAURENT, Quebec (AP) — ST-LAURENT, Quebec (AP) — CAE Inc. (CAE) on Thursday reported fiscal third-quarter net income of $120.5 million.
The St-Laurent, Quebec-based company said it had net income of 38 cents per share. Earnings, adjusted for non-recurring gains, were 21 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The civil and military flight simulator company posted revenue of $874.4 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $818.7 million.
CAE shares have decreased slightly more than 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.50, a rise of 12% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAE at https://www.zacks.com/ap/CAE
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