CAE profit rises on higher demand

CAE Inc. (CAE-T), a flight simulator maker and aviation trainer, posted a 23-percent rise in its quarterly profit helped by higher demand in its military and civil businesses.

Montreal-based CAE's January-March net earnings rose to $49.7 million, or 19 cents a share, from $40.5 million, or 16 cents a share, a year ago.

Excluding items, the company earned 19 cents a share.

Analysts on average had forecast a profit of 17 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 17 percent to $464.4 million, compared to analysts' forecast of $446.7 million.

Combined military segment revenue rose 18 percent to $256.4 million while combined civil segments revenue rose 17 percent to $208 million.

CAE had a backlog of $3.4 billion at quarter-end, up from $3 billion in the year-prior period.