CAE beats 3Q profit forecasts

CAE posts 3Q profit of $50.8 million, result tops expectations

MONTREAL (AP) _ CAE Inc. (CAE) on Tuesday reported fiscal third-quarter net income of $50.8 million.

On a per-share basis, the Montreal-based company said it had profit of 19 cents. Earnings, adjusted for restructuring costs, came to 20 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The civil and military flight simulator company posted revenue of $511.5 million in the period.

CAE shares have risen 3 percent since the beginning of the year. The stock has climbed 50 percent 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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Keywords: CAE, Earnings Report

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