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Calian Q1 revenue up 15%

February 04, 2016

Calian Technologies Ltd. (TSX: CTY) reported revenue rose 15.2% to C$64.5 million (US$46.5 million) in its fiscal first quarter ended Dec. 31. The Ottawa-based company cited organic growth in most of its service lines this quarter.

First-quarter revenue rose 31.5% in Calian’s systems engineering division and 9.3% in its business and technology services division, which includes staffing,

The Calian board agreed to ask for shareholder approval to rename Calian Technologies Ltd. to Calian Group Ltd. during the company’s annual meeting of shareholders on Feb. 5. According to the company, the name change reflects the diversity of Calian’s services with the expansion into areas including healthcare and training.

(C$ thousands) Q1 2016 Q1 2015 % growth   Q4 2015 (USD $000s)
Revenue $64,533 $56,000 15.2% $46,541
Gross profit $11,667 $10,504 11.1%   $8,414
Gross margin percentage 18.1% 18.8%      
Net profit for the period $3,063 $2,468 24.1% $2,209

Quote

“We have secured new customers in support of our customer diversification focus, and continue to evolve our services with investment in areas such as product development at our [systems engineering] division,” said President and CEO Kevin Ford. “We also signed almost $50 million in new contracts this quarter which demonstrates our sales and marketing functions are executing well.”

Revenue by segment

(C$ thousands) Q1 2016 Q1 2015 % growth   Q2 2015 (USD $000s)
Business and technology services $44,853 $41,035 9.3% $32,348
Systems engineering $19,680 $14,965 31.5% $14,193

Guidance

Calian expects revenues for fiscal year 2016 to be in the range of C$250 million to C$280 million.