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CAE Inc. shares hit record high after Q4 report beats analyst expectations

Last Updated May 25, 2018 at 5:20 pm EDT

MONTREAL – Montreal-based CAE Inc. shares hit an all-time high Friday and was the second-best performer on Canada’s main index after the company reported better-than-expected quarterly earnings.

CAE’s shares closed at $26.57 up $1.32 or 5.23 per cent. Earlier in the day, they hit an inter-day high of $27.10.

The flight simulation company reported earlier that its net income attributable to shareholders from continuing operations was $100.1 million or 37 cents per share for the fourth quarter of its 2018 financial year.

The profit was up from $67.4 million or 25 cents per share during the same quarter the previous year. Analysts anticipated earnings of $89 million or 32 cents per share, according to Thomson Eikon.

Revenue for the three months ended March 31 was $780.7 million, up from $734.7 million in the fourth quarter of fiscal 2017.

The company booked two record-high figures for its full financial year: $3.9 billion in annual order intake and a $7.8 billion backlog.

Companies in this story: (TSX:CAE)