Revenues surged for the defence and security division of Canadian simulation systems company CAE during its third fiscal quarter, far outpacing progress on its civil side.
Revenues in the division increased to CAD330.2 million (USD248.5 million), up 27% compared with the corresponding period last year. The training services provider’s defence-related backlog jumped by 22% to USD3.3 billion.
In a conference call with analysts on 8 February, CEO Marc Parent attributed what he called a “mixed” performance to increased activity in CAE’s recently-acquired Alpha-Omega Change Engineering (AOCE) unit and its US Navy Chief of Naval Air Training contract, both of which are in their early stages.
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