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Calian Q4 revenue up 12%

November 11, 2015

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!