(Montreal) CAE recorded a loss of 484.3 million in the fourth quarter, compared to profits of 101.9 million a year earlier.
The Montreal-based flight simulator maker reported revenue for the quarter ended March 31 of $1.1 billion, down from $1.2 billion in the same quarter last year.
Its loss per share was $1.58, compared with earnings per share of 29 cents a year earlier.
Last week, the company said it expected a loss of that magnitude due to a 568 million goodwill write-down for its troubled defense business.
The company said it is making some changes, including some changes in its senior ranks and operational changes.
On Monday, President and CEO Marc Parent said the company had taken “necessary steps” to improve CAE’s defense margins and now has a “more balanced risk profile.” “.