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View All NewsCalian Q4 revenue up 12%
Calian Technologies Ltd. (TSX: CTY) reported revenue rose 12.0% in its fiscal fourth quarter ended Sept. 30 to C$60.9 million (US$45.4 million). The Ottawa-based company cited organic growth in all of its services; the business and technology services division, which includes staffing, also benefitted from Calian’s recent acquisitions.
Fourth-quarter revenue rose 7.6% in Calian’s business and technology services segment and 24.3% in its systems engineering division.
For the full fiscal year 2015, revenue rose 14.7%.
Calian also reported it will ask for shareholder approval to rename Calian Technologies Ltd. to Calian Group Ltd. during its next annual meeting on Feb. 5, 2016. According to the company, the name change reflects the firm’s current business activities, which have expanded from strictly technology into areas such as healthcare and training.
(C$ thousands) | Q4 2015 | Q4 2014 | % growth | Q4 2015 (USD $000s) | |
Revenue | $60,944 | $54,430 | 12.0% | — | $45,442 |
Gross profit | $10,781 | $10,081 | 6.9% | $8,039 | |
Gross margin percentage | 17.7% | 18.5% | |||
Net profit for the period | $2,877 | $2,575 | 11.7% | — | $2,145 |
Quote
“Our full year revenue attainment of $242 million represents a 15% increase year over year and the highest revenue level for Calian in our 33 year history,” said President and CEO Kevin Ford. “Despite challenging market conditions I am very proud of the team’s efforts to execute our growth strategy, increase cash earnings by more than $1 million and continue to provide a solid return to our shareholders, paying $8.3 million in dividends this year.”
Revenue by segment
(C$ thousands) | Q4 2015 | Q4 2014 | % growth | Q2 2015 (USD $000s) | |
Business and technology services | $43,121 | $40,087 | 7.6% | — | $32,153 |
Systems engineering | $17,823 | $14,343 | 24.3% | — | $13,290 |
Fiscal year 2015 results
(C$ thousands) | Q4 2015 | Q4 2014 | % growth | Q4 2015 (USD $000s) | |
Revenue | $242,253 | $211,257 | 14.7% | — | $180,634 |
Gross profit | $41,511 | $39,110 | 6.1% | $30,952 | |
Gross margin percentage | 17.1% | 18.5% | |||
Net profit for the period | $9,767 | $10,581 | -7.7% | — | $7,283 |
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
Calian shares rose 2.10% to C$16.03 in early afternoon trading today. The company had a market cap of C$118.27 million, according to Yahoo!