Cae announces re-baselining of its defense business, defense impairments, accelerated risk recognition on legacy contracts and appointment of nick leontidis as coo
Defense records $568.0 million goodwill impairment, $90.3 million unfavourable contract adjustments, and $35.7 million impairment of related intangible assets preliminary unaudited fiscal fourth quarter and full fiscal 2024 results and initial fiscal 2025 outlook provided board approves ncib for the repurchase of up to 5% of cae's common shares fourth quarter and full year fiscal 2024 results to be disclosed after market hours on may 27 management to discuss financial results and outlook on may 28 earnings call montreal , may 21, 2024 /prnewswire/ - (nyse: cae) (tsx: cae) - cae inc. (cae or the company) today announced a re-baselining of its defense business along with defense impairments and unfavourable contract adjustments related to eight previously identified fixed-price legacy contracts (the legacy contracts). cae also announced the appointment of nick leontidis to the new position of chief operating officer (coo) as part of a senior leadership reorganization to further strengthen its execution capabilities and drive additional synergies between cae's defense & security business and its civil aviation business.
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