CAE on Track to Exceed Last Year’s Sales

Article Excerpt

CAE INC. $11 (Toronto symbol CAE; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 254.9 million; Market cap: $2.8 billion; SI Rating: Average) continues to win new orders for its flight simulators and pilot training services. It recently received contracts for four simulators worth $54 million. CAE sold 18 simulators in the first half of its current fiscal year, compared with 37 in the fiscal year ended March 31, 2008. Demand should continue to grow as airlines upgrade their aging fleets. Meanwhile, CAE earned $0.18 a share in its first fiscal quarter ended June 30, 2008, up 20% from $0.15 a year earlier. Revenue grew 9.4%, to $392.1 million from $358.3 million. CAE is a buy. buy…