Nov 8 CAE Inc, an aviation trainer and
flight simulator maker, said on Thursday it may cut 100 more
jobs as part of an ongoing restructuring.
CAE, which reported a 6 percent fall in second quarter
profit, cut 300 jobs in May on weak demand in Europe. The
company supplies to commercial airlines and defense forces.
The two cuts will affect 5 percent of the company's 8000
"We are undertaking additional restructuring estimated to
cost C$15 million to right-size our operations for current and
anticipated contracts," Chief Executive Officer Marc Parent said
on a post-earnings conference call with analysts.
The company said in May it expects to take a charge of about
C$25 million in the first half of fiscal 2013 related to the
The biggest weakness appears to be in Germany, where orders
from defense forces have fallen faster than expected, National
Bank Financial analysts said in a client note on Thursday.
Restructuring in Germany is not expected to impact jobs in
Canada immediately, Parent said.
Net income attributable to equity holders fell to C$36.5
million, or 14 Canadian cents per share, in the second quarter,
from C$38.7 million, or 15 Canadian cents per share, a year
Revenue rose 19 percent to C$514.4 million.
Shares of the Montreal-based company, which has a market
value of about C$2.69 billion, closed marginally down at C$10.31
on the Toronto Stock Exchange.