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Calian Reports Second Quarter Results: Continued Superior Results

Calian Reports Second Quarter Results: Continued Superior Results

(All amounts in this release are in Canadian Dollars)

Calian Technologies Ltd. has released its unaudited results for the second quarter ended March 31, 2012. Revenues for the quarter were $61.6 million, a 4% increase from the $59.4 million reported in the same quarter of the previous year. Net earnings were $3.7 million or $0.48 per share basic and diluted, compared to $3.3 million or $0.42 per share basic and diluted in the same quarter of the previous year. For the six-month period ending March 31, 2012, the Company reported revenues of $118.4 million and net earnings of $7.3 million or $0.95 per share basic and diluted, compared to revenues of $112.7 million and net earnings of $6.4 million or $0.83 per share basic and diluted in the prior year.

"I am very pleased with the excellent results that we posted in the second quarter of fiscal 2012. Revenues continued to grow in both divisions as we experienced robust demand in all of our service lines. I am particularly pleased with the growth in our BTS division which attained its best quarterly revenues on record despite a very competitive and dynamic marketplace. We are certainly encouraged by our achievements to date, which gives us added confidence in meeting our annual guidance numbers" stated Ray Basler, President and CEO.

"Gross margins were very strong this quarter with SED posting exceptional results. This was a function of excellent project execution, augmented by favorable input pricing and the recognition of tax credits reported on certain projects. The BTS division continues to cope with a very competitive landscape, but I am encouraged by the relatively small falloff in margins compared to the prior year. We continue to pay close attention to market conditions and if warranted, will dynamically adjust our pricing strategies accordingly" continued Basler.

"During the quarter we were delighted to consummate the acquisition of Primacy Management Inc. Primacy brings a strong management team and a history of profitability, but more importantly, it represents a critical step towards the goal of evolving our health service line and enhancing the Calian brand in the healthcare marketplace. Primacy not only expands our network of national healthcare practitioners but provides a unique opportunity to participate in geographically dispersed clinics without the significant up front capital requirements. While we are excited about the expansion opportunities that Primacy will bring, we recognize the importance and short term priority that must be placed on proper integration to continue serving a national client such as Loblaws. Primacy's results for the month of March have been included in the results of our BTS division" continued Basler.

While we are excited about the growth in both revenues and net earnings, we are mindful that customer spending patterns are constantly under pressure. We continue to believe that our key markets will remain relatively strong in the long term despite the potential impact of government cost cutting initiatives and increased competitive pressures in the near term. 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 prudent assessment of the marketplace during these unsettled economic times, we maintain our guidance with revenues for 2012 expected to be in the range of $230 million to $250 million and net earnings in the range of $1.70 to $1.95 per share.

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