Calian Reports Fourth Quarter Results: Positive End To Another Strong Fiscal Year

Calian Reports Fourth Quarter Results: Positive End To Another Strong Fiscal Year

Calian Technologies Ltdhas released unaudited results for the fourth quarter ended September 30, 2011. Revenues for the quarter were $55.4 million, a 5% increase from the $52.9 million reported in the same quarter of the previous year. Net earnings were $3.3 million or $0.43 per share basic and diluted, compared to $3.2 million or $0.42 per share basic and diluted in the same quarter of the previous year. For the year 2011, the Company reported revenues of $226.7 million and net earnings of $13.2 million or $1.71 per share basic and diluted, compared to revenues of $215.7 million and net earnings of $13.6 million or $1.75 per share basic and diluted in the prior year.

"We were pleased to end the fiscal year on a strong note with both divisions showing increased revenues relative to the prior year. Our SED division had a strong quarter with steady levels of activity in both its manufacturing and engineering groups. Likewise, our BTS division continued its positive momentum producing solid revenues with an uptick in activity in both its short term staffing and outsourcing groups. Overall for the year, consolidated revenues increased in excess of 5%, a substantial achievement in today's volatile business environment" stated Ray Basler, President and CEO.

"Gross margins were strong for the quarter with SED realizing improved margins relative to the prior year due to excellent project execution and efficient close-outs of certain projects. BTS margins continued to exhibit the effects of continued competitive pressures, although overall margins are still healthy. A recent realignment of the BTS division will allow us to better pursue our target markets with a goal of enhancing growth while maintaining overall margins" continued Basler.

"Today, we also announced an increase in our quarterly dividend to $0.26 per share. This represents an increase of 4% over the most recent quarter and an 18% increase over the amount paid in the same quarter last year. Including the reinvestment of dividends, our shareholders realized a modest single digit return for the fiscal year; not significant in absolute terms, but still bettering the overall return of the TSX by more than 7% during the same period. We are proud to have generated significant earnings and cash flows that have once again translated into a superior return for our shareholders" continued Basler.

While growth has been modest this last year, we are proud of our accomplishments within a very competitive landscape, particularly during this period of continued worldwide political and economic uncertainty. We believe that our key markets will remain strong, although we recognize the potential for government cost cutting initiatives and increased competitive pressures. Ultimately, revenues realized will be dependent on the extent and timing of future contract awards as well as customer utilization of existing contracting vehicles. Based on available information and our assessment of the marketplace, we expect revenues for 2012 to be in the range of $230 million to $250 million and net earnings per share in the range of $1.65 to $1.90 per share.