Every material Form 8-K CAE INC has filed with the SEC since November 12, 2004, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
CAE reported a third-quarter net loss of C$347.0 million, or $1.40 per share, for the quarter ended December 31, 2004, driven by a non-cash C$443.3 million pre-tax impairment charge. Excluding the charge, earnings from continuing operations fell to C$8.8 million from C$14.5 million a year earlier, while revenue rose 1.0% to C$257.5 million. The company also announced a restructuring plan and cut its annualized dividend to $0.04 per share.
Q3 net loss of C$347.0 million, or $1.40 per share, including a C$443.3 million pre-tax non-cash impairment charge
Excluding the charge, Q3 earnings from continuing operations were C$8.8 million ($0.04 per share) versus C$14.5 million ($0.05 per share) a year earlier
Revenue from continuing operations rose 1.0% to C$257.5 million; about 450 jobs to be cut and a C$30 million charge recorded in the quarter ending March 31, 2005
Annualized dividend reduced to $0.04 per share; estimated after-tax gain of C$110 million from the Marine Controls sale expected in the quarter ending March 31, 2005
CAE Inc. signed an agreement on November 1, 2004 to sell its Marine Controls unit to L-3 Communications Corporation for approximately C$328 million, including C$276 million in cash. CAE expects an after-tax capital gain of about C$125 million at closing and plans to use proceeds mainly to reduce long-term debt, though the deal is initially expected to dilute earnings.
Price: approximately C$328 million, including C$276 million (US$225 million) in cash and assumption of C$52 million of project finance debt
Marine Controls fiscal 2004 revenue was C$158.6 million, about 15% of CAE's total revenue
Expected after-tax capital gain of approximately C$125 million at closing; closing expected before March 31, 2005
Deal is subject to regulatory approvals and other closing conditions
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every CAE INC filing is on SEC EDGAR ↗. 8-K briefs of other companies →