CAE Inc.
28.01-0.65 (-2.27%)
Oct 29, 4:00:02 PM EDT · NYSE · CAE · USD
Key Stats
Market Cap
8.98BP/E (TTM)
30.12Basic EPS (TTM)
0.93Dividend Yield
0%Recent Filings
8-K
CAE's Q3 loss and restructuring
CAE reported a Q3 net loss of $347.0 million, driven by a $443.3 million non-cash asset impairment amid weak civil aviation demand and a stronger Canadian dollar. The company unveiled a restructuring plan effective April 1, 2005, consolidating operations into Civil Training, Military, and Simulation Products groups to cut duplication and headcount by 450, targeting improved profitability and cash flow. Excluding impairments, earnings from continuing operations fell to $8.8 million from $14.5 million last year. Restructuring will cost $30 million this quarter and $25-35 million in 2006, yet it promises lower amortization by $14.0 million annually.
8-K
CAE sells Marine Controls unit
CAE Inc. signed a deal on November 1, 2004, to sell its Marine Controls unit to L-3 Communications for C$328 million, including C$276 million cash and C$52 million debt assumption, with closing expected before March 31, 2005, pending approvals. The unit generated C$158.6 million in revenue last year, about 15% of CAE's total, employing 460 people worldwide. This sharpens CAE's focus on simulation training while delivering a C$125 million after-tax gain; proceeds will cut long-term debt. Earnings may dip short-term.
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