CAE first-quarter results

According toa press release, CAEs latest quarterly results show 15% higher revenues, with the increase due mostly to its civil and military simulation divisions. Good news for the new CEO.

Simulation Products/Civil won six orders for full-flight simulators, four of which were announced. At June 30, 2005, the segments backlog had reached Can$277 million. The division generated operating income of C$7.1 million in the first quarter on revenues of C$60.2m.

Simulation Products/Military won C$105.7 million in new orders. Its backlog at June 30 reached C$535 million. Operating income for the first quarter was C$4.8 million on revenues of C$72.7

The rest of the overall revenue of C$266m is provided by training services.

Under the new CEO (Robert Brown took over last August) the company has decided to move its head office to Montreal, undergone an extensive strategic review (ie sold some bits off), restructured its reporting procedures, and taken out a large ($400m plus EU100m) credit line.

Mr Brown also says: “I am confident that we are taking the right steps towards re-engaging our workforce”.

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