04:59 PM EDT, 05/27/2024 (MT Newswires) -- CAE Inc. ( CAE ) edged down in after-hours New York trading after the flight-simulator manufacturer after trade Monday reported fourth-quarter financials unchanged from the previously disclosed preliminary results released last week and confirmed all of the 2025 guidance originally disclosed on May 21.

In fresh news, CAE said the TSX has approved the re-establishment of its normal-course issuer bid. The NCIB will commence on May 30, 2024 and end on May 29, 2025. A statement said the board's decision to re-establish the NCIB reflects CAE's current outlook and the cash generative nature of its highly recurring revenue business. CAE's board will also continue to evaluate the possibility of reintroducing a shareholder dividend.

On its financials, CAE reported fourth quarter adjusted earnings per share, which exclude most one time items, of $0.12 ($0.37 excluding Legacy Contracts) compared to $0.33 in the year-prior quarter.

Among other highlights, fourth quarter fiscal 2024 revenue was $1,126.3 million, compared with $1,197.4 million last year. Fourth quarter EPS from continuing operations was negative $1.58 compared to $0.29 last year.

CAE pre-released its quarterly results last week as warned it would take a $568-million charge in a write down of goodwill, as well as $90.3 million for unfavorable adjustments and a $35.7-milion charge to account for the re-baselining of its Defense & Security business along with Defense & Security impairments and unfavorable contract adjustments related to eight previously identified fixed-price legacy contracts..

CAE also confirmed all of the 2025 guidance originally disclosed on May 21, including for Civil and Defense, for finance expense and tax expense, and for balanced capital allocation priorities and accretive growth investments.

On outlook, CAE reiterated that "a tenet of its capital management priorities includes the maintenance of a solid financial position, and it expects to continue to bolster its balance sheet through ongoing deleveraging, commensurate with its investment grade profile."

"Last week we acted decisively and took the necessary steps to provide a clear path to margin improvement in our Defense business, supported by compelling long-term secular trends for this segment," said chief executive Marc Parent. "As a result of the changes we have made, we have a more balanced risk profile going forward, and with Nick Leontidis as our new Chief Operating Officer, we are well-positioned to further strengthen our execution capabilities and drive additional synergies between our Civil and Defense segments."

As previously disclosed, in Civil, the larger of CAE's two businesses, record margins and orders "position the company well in the fiscal year ahead" with expected low double-digit percentage Civil annual adjusted segment operating income growth and continued margin strengthening, with an annual adjusted segment operating income margin of approximately 23%. For Defense, CAE continues to expect fiscal 2025 revenue growth in the low- to mid-single-digit percentage range and annual Defense adjusted segment operating income margin in the 6- to 7% range.

The company's shares were last seen down US$0.01 to US$18.65 after hours. They closed up $0.24 to $25.71 on the Toronto Stock Exchange.