(Montreal) The Montreal company CAE, best known for its technologies in the fields of civil aviation and defence, reports on Wednesday that it achieved a result in the fourth quarter of 2023 of 186.6 million, compared to 93.3 million in the corresponding quarter of the previous financial year.
Per share, earnings went from $0.45 to $0.70.
On an adjusted basis, the result increased from 142.7 million to 201.9 million during the same period.
Meanwhile, revenue from ordinary activities increased by 32% to 1.257 billion.
For the full year 2023, operating income was 474 million compared to 284.2 million in 2022. Revenue jumped 25%, from 3.4 billion to 4.2 billion.
In the fourth quarter, Civil reported revenue of $661.4 million, up 53% from the same quarter last year. As for the Defense sector, it recorded during the same period revenue from ordinary activities of 536 million, up 14%.
CAE President and CEO Marc Parent added that the company has built an outstanding adjusted backlog of $10.8 billion.
CAE management says it is executing a growth strategy that will see it become a bigger, stronger and more profitable company.
Company named in this dispatch: CAE (TSX: CAE)
