CAE Q2 Net Rises - Quick Facts

(RTTNews) - Canadian aviation-training and simulation products provider CAE Inc. (CAE, CAE.TO) reported an improvement in second-quarter net income attributable to equity holders to C$38.3 million or C$0.15 per share, from C$35.6 million or C$0.14 per share last year.

However, revenue for the quarter was C$487.5 million, down compared with C$506.5 million in the prior-year period.

The company said it has improved its operating margins during the quarter in both Civil and Military, sustaining its confidence that performance would be stronger in the second half. CAE's President and Chief Executive stated, "Our operational focus yielded strong free cash flow in the quarter of nearly $120 million, which enabled us to reduce net debt(5) below 40% of capital. We achieved a book-to-sales ratio of 1.47 on solid order intake and our backlog reached $3.9 billion. This includes a record $2.0 billion backlog in Civil, which is indicative of our sector leadership within a robust aerospace market."

In addition, the board approved a one cent increase in CAE's quarterly dividend to six cents per quarter.