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View All NewsCalian revenue up 19%
Calian Technologies Ltd. (TSX: CTY) reported revenue rose 19.4% in its fiscal third quarter ended June 30. The Ottawa-based company cited strong revenue growth in its “systems engineering” segment with support from recent acquisitions.
Third-quarter revenue rose 10.5% in Calian’s business and technology services segment, which includes staffing.
| (C$ thousands) | Q3 2015 | Q3 2014 | % growth | Q2 2015 (USD $000s) | |
| Revenue | $64,267 | $53,839 | 19.4% | — | $52,008 |
| Gross profit | $9,999 | $9,936 | 0.6% | $8,092 | |
| Gross margin percentage | 15.6% | 18.5% | |||
| Net profit for the period | $2,214 | $2,866 | -22.7% | — | $1,792 |
Quote
“Year to date we have improved cash flows, diversified our customer base and continue to execute key elements of our growth strategy,” President and CEO Kevin Ford said. “The significant IT service line win within our [business and technology services] division signed this quarter with the city of Toronto is a great example of our service line evolution strategy in action as we expand into the IT solutions market.”
Revenue by segment
| (C$ thousands) | Q3 2015 | Q3 2014 | % growth | Q2 2015 (USD $000s) | |
| Business and technology services | $43,834 | $39,679 | 10.5% | — | $35,473 |
| Systems engineering | $20,433 | $14,160 | 44.3% | — | $16,535 |
Guidance
Calian expects revenues for fiscal year 2015 to be in the range of C$235 million to C$255 million.
Share price and market cap
Calian shares rose 0.10% to C$19.30 in early afternoon trading today. The company had a market cap of C$142.30 million, according to Yahoo!