CAE has reported revenue of CA$933.3 million for the first quarter of fiscal 2023, compared to CA$752.7 million in the first quarter last year. First-quarter net income attributable to equity holders was CA$1.7 million compared to CA$46.4 million last year. Adjusted net income in the first quarter of fiscal 2023 was CA$17.6 million compared to CA$55.6 million last year.
Operating income this quarter was CA$39.4 million (4.2% of revenue), compared to CA$86.2 million (11.5% of revenue) last year. First-quarter adjusted segment operating income was CA$60.9 million (6.5% of revenue) compared to CA$98.4 million (13.1% of revenue) last year. Adjusted segment operating income excluding COVID-19 government support programmes, of which there have been none since the first quarter of fiscal 2022, was also CA$60.9 million (6.5% of revenue) compared to CA$84.8 million (11.3% of revenue) last year. Adjusted segment operating income this quarter included CA$28.9 million in unfavourable contract profit adjustments in defence, involving two programmes in the U.S. £1.00 = CA$1.55 at time of publication)
