BRIEF-Prospect Park Capital says will not receive milestone payment held onto upon sale of interest in IOI
* Says advised by Serenity Pharmaceuticals co will not receive milestone payment which it held onto upon sale of interest in IOI
* Q1 2012 earnings C$43.1 mln, up from C$37.2 mln Q1 2011
* EPS C$0.17, up from C$0.14
* Revenue C$427.9 mln vs C$366.4 mln
* Shares dropped 1.5 pct in early trading on TSX (Adds market reaction)
TORONTO, Aug 10 CAE Inc said on Wednesday (CAE.TO) quarterly earnings rose thanks to the strength of its commercial flight simulator business, especially in emerging markets.
The Canadian company, which provides flight simulation technology to the civil aviation and defense sectors, earned C$43.1 million, or 17 Canadian cents a share, in its fiscal first quarter ended June 30, from C$37.2 million, or 14 Canadian cents, in the same quarter last year.
Revenue rose to C$429.7 million from C$366.4 million.
"Full-flight simulator sales are off to a strong start and we signed three pivotal joint venture agreements, including the total outsourcing of training by AirAsia, one of the world's fastest growing airlines," said Chief Executive Officer Marc Parent in a release.
Parent said the company was benefiting from a strong position in emerging markets.
Revenues also rose from the company's defense business, but the division's operating profit dipped on margin pressure and order delays.
Shares were down 1.5 percent to C$11.65 in early trading on the Toronto Stock Exchange.
(Reporting by Allison Martell)
NEW YORK, March 29 Trading volume for emerging market debt rose 9 percent last year to $5.167 trillion, according to a survey of 45 leading investment and commercial banks in 90 emerging market countries.