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View All NewsCalian Q2 revenue up 12%
Calian Group Ltd. (TSX: CGY) reported revenue rose 11.6% to C$68.1 million (US$52.3 million) in its fiscal second quarter ended March 31.
Second-quarter revenue rose 3.0% in Calian’s systems engineering division and 14.8% in its business and technology services division, which includes staffing.
Calian in March changed the company’s name to Calian Group Ltd. (TSX: CGY) from Calian Technologies Ltd. (TSX: CTY). The company aimed for the new name to better reflects the diversity of its services in light of the expansion into areas such as healthcare and training, according to the company.
| (C$ thousands) | Q2 2016 | Q2 2015 | % growth | Q2 2016 (USD $000s) | |
| Revenue | $68,100 | $61,042 | 11.6% | — | $52,282 |
| Gross profit | $12,080 | $10,227 | 18.1% | $9,274 | |
| Gross margin percentage | 17.7% | 16.8% | |||
| Net profit for the period | $3,262 | $2,208 | 47.7% | — | $2,504 |
Quote
“I am extremely proud of our accomplishments this quarter,” said President and CEO Kevin Ford. “We continue to execute well across all of our growth strategy pillars of customer retention, customer diversification, service line evolution and continuous process improvement with wins in each element of our strategy. We are also continuing to invest in new communication products and service lines solutions to support our long term growth objectives.”
Revenue by segment
| (C$ thousands) | Q2 2016 | Q2 2015 | % growth | Q2 2016 (USD $000s) | |
| Business and technology services | $50,616 | $44,075 | 14.8% | — | $38,859 |
| Systems engineering | $17,484 | $16,967 | 3.0% | — | $13,423 |
Guidance
Calian expects revenues for fiscal year 2016 to be in the range of C$250 million to C$280 million.
Share price and market cap
Shares in Calian rose 1.12% to C$19.89 in early afternoon trading. The company had a market cap of C$152.47 million, according to Google.