CAE reports third quarter fiscal 2020 results.

Highlights:

* Revenue of $923.5 million up 13% vs. $816.3 million in prior year

* Segment operating income(1) of $154.9 million ($155.3 million before specific items(2)) up 37% vs. $113.0 million in prior year

* EPS of $0.37 vs. $0.29 in prior year

* Free cash flow(3) of $275.3 million up from $155.1 million in prior year

* Order intake(4) of $1,106.6 million for 1.20x book-to-sales(4) and $9.4 billion backlog(4)

* Company pledged to become carbon neutral by summer 2020

Montreal, Canada - (NYSE: CAE; TSX: CAE)

CAE today reported revenue of $923.5 million for the third quarter of fiscal 2020, compared with $816.3 million in the third quarter last year. Third quarter net income attributable to equity holders was $97.7 million ($0.37 per share) compared to $77.6 million ($0.29 per share) last year. Net income before specific items(5) in the third quarter of fiscal 2020 was $98.0 million ($0.37 per share before specific items(6)).

Third quarter segment operating income was $154.9 million (16.8% of revenue) compared with $113.0 million (13.8% of revenue) in the third quarter of last year. Segment operating income before specific items in the third quarter of fiscal 2020 was $155.3 million (16.8% of revenue). All financial information is in Canadian dollars unless otherwise indicated.

'CAE had strong growth in the third quarter, with 13 percent higher revenue and 37 percent higher operating income, and we generated over $275 million of free cash flow. Customers continued to put their trust in CAE as their training partner of choice, awarding us $1.1 billion of orders for a $9.4 billion backlog,' said Marc Parent, CAE's President and Chief Executive Officer. 'Our performance was led by Civil with 42 percent operating income growth and continued good momentum with our innovative and comprehensive training solutions. In Defence, we had 32 percent operating income growth and we secured orders in excess of revenue by 1.11 times. Todd Probert recently joined CAE as its new Group President, Defence & Security and I am very pleased to welcome a leader of his calibre to our executive team. In Healthcare, we had double-digit revenue growth and we continued to bring highly innovative solutions to market to help make healthcare safer. As we look to the remainder of the fiscal year, our positive annual growth outlook for the Company remains unchanged.'

Summary of consolidated results: See details at

https://www.cae.com/news-events/press-releases/cae-reports-third-quarter-fiscal-2020-results

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