(Aug 11): CAE reported revenue for the first quarter that missed the average analyst estimate.
* 1Q revenue C$698.9 million, estimate C$699.7 million (range C$681.0 million to C$709.0 million)
* Sees FY capital expenditure C$150 million
* 1Q Fiscal 2018 Results & Reports Div Boost
* 1Q Profit cont Ops/Shr C$0.24
* Confirms in Advanced Talks With Airasia
* In Talks to Buy Airasia's 50% Share of Joint Venture
* 1Q Profit cont Ops/Shr C$0.24, est. C$0.25
* Board Approves Qtr Div Boost to C$0.09/shr From C$0.08
NOTE:
* 4 buys, 8 holds, 0 sells before today
* Call 1:30pm (NY time), 877-586-3392
eyewitness
In response to reports published by the media, CAE confirms it is in advanced discussions with AirAsia to conclude a sale and purchase agreement for CAE to acquire AirAsia's 50% share of the Asian Aviation Centre of Excellence Sdn. Bhd. JV. CAE's relationship with AirAsia began in 2004 and with this agreement, it would expand with a contract for all AirAsia training requirements and that of its affiliates, in support of all the aircraft types it operates for an extended term. The transaction is subject to the successful conclusion of a sale and purchase agreement between the parties.
2017-08-11 22:25