Friday, May 20, 2016

CAE Inc - CAE.t

CAE Inc - CAE.t (formerly Canadian Aviation Electronics) is a Canadian manufacturer of simulation technologies, modelling technologies and training services to airlines, aircraft manufacturers, defense customers, mining companies and healthcare specialists.

On May 19, 2016 the company released Numbers

"CAE reports fourth quarter and full fiscal year 2016 results
  • Q4 revenue up 14% to $722.5 million and annual revenue up 12% to $2.5 billion
  • Q4 and annual EPS from continuing operations of $0.23 and $0.89 ($0.27 and $0.86 before specific items(1), up 13% each compared to last year)
  • Q4 Civil operating margin of 19.1% on 76% training centre utilization(2) 
  • Annual order intake up 18% to $2.8 billion including industry record 53 Civil FFS orders
  • Annual free cash flow(3) up 42% to $247.7 million for 107% cash conversion(4)    
Montreal, Canada, May 19, 2016 - (NYSE: CAE; TSX: CAE) - CAE today reported revenue of
$722.5 million for the fourth quarter of fiscal year 2016, representing 14% growth from the fourth quarter last year. Fourth quarter net income attributable to equity holders from continuing operations was $61.2 million ($0.23 per share) compared to $63.3 million ($0.24 per share) last year.

Fourth quarter net income before specific items(5) was $72.8 million, or $0.27 per share, representing an EPS increase of 13% over the same period last year. Specific items this quarter include restructuring costs of $11.6 million (net after-tax) related to CAE's process improvement program.
Annual fiscal 2016 revenue was $2.5 billion, representing 12% growth from the prior year. Annual net income attributable to equity holders of the Company from continuing operations was $239.3 million ($0.89 per share). Annual net income before specific items was $230.5 million, or $0.86 per share, representing an EPS increase of 13% over last year. Specific items for the year include restructuring costs of $20.6 million (net after-tax) for the process improvement program as well as a one-time tax item of $29.4 million. All financial information is in Canadian dollars.

"CAE had strong performance in the fourth quarter and fiscal year overall, underscored by nearly $250 million of free cash flow generated over the course of the year," said Marc Parent, CAE's President and Chief Executive Officer. "Growth was led by our Civil segment, which saw higher demand for our training solutions translate into 76% utilization of our training network and a 19.1% operating margin this quarter. On the order front, I am pleased with the high level of activity in all segments, including an annual record 53 full-flight simulator orders in Civil, and annual orders exceeding revenue in Defence for first time in four years. CAE's market position and $6.4 billion backlog(6) bode well for long-term sustainable growth."
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