ST-LAURENT, Quebec (AP) — ST-LAURENT, Quebec (AP) — CAE Inc. (CAE) on Wednesday reported fiscal first-quarter net income of $22.4 million.
On a per-share basis, the St-Laurent, Quebec-based company said it had net income of 7 cents. Earnings, adjusted for restructuring costs and amortization costs, were 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The civil and military flight simulator company posted revenue of $847.6 million in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $818.1 million.
CAE shares have dropped 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.68, a decline of slightly more than 6% 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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