Montreal-based CAE Inc. reported a $484.3M Q4 loss due to a $568M "goodwill impairment" in defense business.
Montreal-based flight simulator company CAE Inc. reported a $484.3M loss in Q4, compared to a profit of $101.9M a year earlier, while revenues fell to $1.1B from $1.2B. The loss was attributed to a $568M "goodwill impairment" in the defense business. However, the company stated that it has taken steps to improve its margins in defense and has a more balanced risk profile after changes in upper ranks and operations.
May 27, 2024
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