CAE Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2013. For the quarter, revenue was CAD 587.9 million against CAD 506.7 million a year ago. Operating profit was CAD 71.6 million against CAD 88.7 million a year ago. Earnings before income taxes was CAD 53.4 million against CAD 72.1 million a year ago. Net income attributable to equity holders of the company was CAD 43.8 million or CAD 0.17 per basic and diluted share against CAD 53.2 million or CAD 0.21 per basic and diluted share a year ago. Free cash flow was positive CAD 108.6 million. Capital expenditures totaled CAD 32.4 million, including CAD 29.5 million for growth and CAD 2.9 million for maintenance. For the year, revenue was CAD 2,104.5 million against CAD 1,821.2 million a year ago. Operating profit was CAD 245.7 million against CAD 302.1 million a year ago. Earnings before income taxes was CAD 177.5 million against CAD 239.5 million a year ago. Net income attributable to equity holders of the company was CAD 139.4 million or CAD 0.54 per basic and diluted share against CAD 180.3 million or CAD 0.70 per basic and diluted share a year ago. Net cash provided by operating activities was CAD 204.1 million against CAD 233.9 million a year ago. Capital expenditures for property, plant and equipment was CAD 155.8 million against CAD 165.7 million a year ago. Net debt was CAD 916.8 million as at March 31, 2013. CAE will pay a dividend of CAD 0.05 per share effective June 28, 2013 to shareholders of record at the close of business on June 14, 2013. For fiscal 2014, the company expected to continue a higher trend in free cash flow.

CAE Inc. announced that it has sold five full-flight simulators as well as a series of training devices, long-term service agreements and update services to airlines and original equipment manufacturers in Asia, Australasia, North America and Europe. The contracts are worth a total of approximately CAD 85 million at list prices and bring the total number of FFS sales that CAE announced in fiscal year 2013 to 35.

CAE Inc. announced it has won a series of military contracts during the final month of its fiscal year 2013 fourth quarter valued at approximately CAD 130 million, including options. They include contracts to provide an MH-60R avionics maintenance trainer and weapons load trainer for the Royal Australian Navy, a C-130J weapon systems trainer for the United States Air Force (USAF), construction of a training facility for the Kuwait Air Force and additional training support services as part of the KC-135 aircrew training system program for the USAF. CAE was awarded a contract to develop an MH-60R avionics maintenance trainer and weapons load trainer (AMT/WLT) for the Royal Australian Navy (RAN) under the United States foreign military sale (FMS) program. CAE USA will be the prime contractor responsible for the design and manufacture of the MH-60R AMT/WLT that will be delivered in 2015 to HMAS Albatross, located near Nowra in New South Wales. CAE is also currently under contract to develop two MH-60R tactical operational flight trainers (TOFTs) for the RAN. The MH-60R AMT/WLT will provide transition and readiness training for MH-60R avionics technicians and be used to demonstrate, instruct and provide hands-on experience on maintaining the MH-60R Romeo helicopter. In addition, the training device will incorporate the capability to train students how to load ammunition using imitation missiles and ordnance.