Montreal-based CAE announced on Tuesday that it recorded a solid performance in the fourth quarter of fiscal 2022, characterized by a 13% increase in revenue from ordinary activities and a record order intake.

Net income attributable to equity holders totaled $55.1 million, or $0.17 per share, compared to $19.8 million ($0.07) in the fourth quarter of 2021.

For the full year, earnings per diluted share stood at $0.45, a performance compared to the negative result of $0.17 for the previous year, while operating income fell from $48.4 million to $284.2 million in one year.

The civil aviation sector recorded an increase in revenue from ordinary activities to $432.7 million, while operating income was $58.1 million, compared to $40.5 million a year earlier.

Adjusted annual operating income was $444.5 million ($430.9 million excluding COVID-19 relief programs, compared to $280.6 million ($153.2 million for the prior year.

Order intake reached a record $4.1 billion with an order backlog of $9.6 billion for an order-to-sales book value ratio of $1.21 billion, while free cash flow improved. set at $341.5 million for fiscal 2022.

“I am very pleased with our strong performance for the fourth quarter and full year, characterized by double-digit growth, higher margins, excellent free cash flow and record order intake,” said Marc Parent, President and CEO of CAE.