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View All NewsCalian revenue falls
Calian Technologies Ltd. (TSX: CTY) reported revenue fell 13.1 percent to C$51.2 million (US$46.3 million) in its fiscal second quarter ended March 31. The company’s “business and technology services” division, which includes staffing, posted a 9.5 percent decrease in second-quarter revenue to C$38.8 million (US$35.1 million).
Ottawa, Ontario-based Calian reported constrained government spending negatively impacted revenue.
The company provides solutions and services. It ranks as the 10th-largest staffing firm in Canada.
It also announced this week that it acquired Amtek Engineering Services Ltd. of Ottawa. Amtek has been in business for 30 years providing engineering services to a variety of government and defense customers. It has revenue of $15 million.
Quote
"While we are obviously disappointed with the last quarter results, we are encouraged by recent contract wins," said President and CEO Ray Basler. The systems engineering division "backlog was replenished late in the quarter through a number of wins ranging from a significant multi-year satellite ground segment contract to reappearance of manufacturing-related orders from longstanding defense customers."
Revenue
| Q1 2014 (C$ 000s) | Q1 2013 (C$ 000s) | % growth | Q1 2014 (USD $000s) | ||
| Revenue | $51,186 | $58,932 | -13.1% | — | $46,267 |
Revenue by segment
| Q1 2014 (C$ 000s) | Q1 2013 (C$ 000s) | % growth | Q1 2014 (USD $000s) | ||
| Business and technology services | $38,806 | $42,903 | -9.5% | — | $35,077 |
| Systems engineering | $12,380 | $16,029 | -22.8% | — | $11,190 |
Net profit for the period
| Q1 2014 (C$ 000s) | Q1 2013 (C$ 000s) | % growth | Q1 2014 (USD $000s) | ||
| Net profit for the period | $2,364 | $3,354 | 64% | — | $2,137 |