04:49 PM EDT, 08/13/2024 (MT Newswires) -- CAE (CAE.TO, CAE) was up 2.6% in after-hours New York trading after the company on Tuesday reported a lower fiscal first-quarter adjusted profit, though one that beat expectations, while revenue rose slightly.

The aerospace and defense company said adjusted earnings, excluding most one-time items fell 13% to $67.8 million, or $0.21 per share, from $76.3 million, or $0.24, last year. The result beat a consensus forecast of $0.20 per share, according to Capital IQ.

Revenue rose 6% to $1.07 billion.

Management is targeting 10% Civil annual adjusted segment operating income growth for fiscal 2025 with performance expected to be weighted to the second half. In Defense, CAE is expecting revenue growth in the "low- to mid-single-digit" percentage range and annual Defense adjusted segment operating income margin to increase to the 6- to 7% range in the same period.

CAE will also book $20 million of additional restructuring expenses in the second quarter as some management layers in the Civil and Defense business have been removed. The company has also streamlined support functions and engineering services.

"Last quarter we took the necessary steps to provide a clear path to margin improvement in our Defense business, and I am pleased with the progress we have made since then to deliver on our commitments," said chief executive Marc Parent. "The secular growth backdrop remains compelling in both civil aviation and defense markets, and despite the short-term impact of the current supply chain headwinds on the airline industry, our nearly $1.2 billion in consolidated adjusted order intake and record $17 billion adjusted backlog this quarter continue to point to a particularly bright future for CAE."

CAE was last seen up US$0.44 to US$17.20 in after hours New York trade. It closed $0.36 higher to $22.98 on the Toronto Stock Exchange.