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Calian revenue rises 11%

November 12 2009
Staffing Industry Analysts North American Daily News

Calian Technologies Ltd. (TSX: CTY) revenue rose 11.2% to C$54.4 million (US$50.1 million) in its fiscal fourth quarter ended Sept. 30 from C$48.9 million in the fourth quarter of last year, according to a company announcement today.

Calian provides information technology, healthcare and technical staffing and solutions. The Ottawa-based company ranked No. 11 on Staffing Industry Analysts' list of largest Canadian staffing firms.

Fourth-quarter revenue in Calian's business and technology services division, which provides staffing, rose 14.4% on a year-over-year basis to C$38.6 million (US$35.5 million). The company reported a long-term contract was recently renewed and several smaller contracts were added.

The staffing division's fourth-quarter gross margin slipped to 16.4% from 17.3% because of increased competitiveness during the difficult economic climate, the company said.

Fourth-quarter gross margin for the full company improved to 20.3% from 19.7% in the year-ago quarter.

Net income in the fourth quarter was C$3.5 million (US$3.2 million), up 27.0% on a year-over-year basis.

Full-year revenue rose 17.6% to C$227.2 million (US$209.3 million) from C$193.2 million in the previous year. Full-year gross margin improved to 21.7% from 19.6%.

Calian's staffing division posted full-year revenue of C$151.7 million (US$139.7 million), up 13.7% from the previous year. Staffing gross margin narrowed to 17.1% from 17.5%.

Full-year net income rose 56.6% to C$16.5 million (US$15.2 million).

Calian estimated revenue in the next year of between C$205.0 million to C$225.0 million, a decrease of approximately 1.0% to 9.8%.

Calian Technologies Ltd. (TSX: CTY)
For the fiscal fourth quarter ended Sept. 30, 2009, compared with the same period in the previous year.
Revenue: C$54.4 million (US$50.1 million), +11.2%
Net income: C$3.5 million (US$3.2 million), +27.0%

For the fiscal year ended Sept. 30, 2009, compared with the previous year.
Revenue: C$227.2 million (US$209.3 million), +17.6%
Net income: C$16.5 million (US$15.2 million), +56.6%

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