Calian net profit up in Q4
The company reported revenues for the quarter of $60.9 million, a 12% increase from the $54.4 million reported in the same quarter of the previous year. For the year ended September 30, 2015 the Company reported revenues of $242.3 million, a 15% increase compared to revenues of $211.3 million in the prior year.
EBITDA for the fourth quarter was $4.9 million, compared to $4.5 million in the same quarter of the previous year and for the year ended September 30, 2015, EBITDA was $17.2 million, compared to $16.2 million in the prior year.
Net profit for the fourth quarter was $2.9 million or $0.39 per share basic and diluted, compared to $2.6 million or $0.35 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, net profit was $9.8 million or $1.33 per share basic and diluted compared to net profit of $10.6 million or $1.44 per share basic and diluted in the previous year.
Adjusted Net Profit(1) for the fourth quarter was $3.1 million or $0.43 per share basic and diluted, compared to $2.8 million or $0.38 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, adjusted net profit(1) was $10.8 million or $1.48 per share basic and diluted compared to $10.7 million or $1.45 per share basic and diluted in the previous year.
"Our 12% improvement in revenues this quarter is a reflection of the revenue growth in both divisions - 24% growth in our Systems Engineering Division (SED) revenues and 8% growth in our Business and Technology Services (BTS) division. We experienced organic growth in all of our services this quarter with the BTS division also obtaining strong support from our recent acquisitions. Cash flows continue to improve with an increase in EBITDA this quarter compared to the prior year," stated Jacqueline Gauthier, CFO.
"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," stated Kevin Ford, president and CEO.
He added, "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.
"Calian is a diverse company and our growth strategy is to embrace this diversity through management focus and the execution of the key components of our strategy - customer retention, customer diversification, evolution of our service lines and continuous process improvement. Combined with a strong backlog, a high customer satisfaction rate and an incredibly talented and dedicated team, I am very excited about Calian's potential.
"To reflect this diversity and although the company still has very deep technology roots, with expansion into areas such as healthcare and training, management has obtained board agreement to ask for shareholder approval to rename Calian Technologies Ltd. to Calian Group Ltd. to more accurately reflect the current business activities of the Company. Shareholder approval will be solicited during our next Annual Meeting of Shareholders to be held February 5, 2016."
During fiscal 2016, management will continue to focus on its key strategic initiatives. Traditional markets in which Calian operates in have stabilized recently and management expects revenue and earnings growth will be achieved organically in most or all of its service lines through the successful execution of our growth strategy. However, we must caution that revenues realized are ultimately dependent on the extent and timing of future contract awards as well as customer utilization of existing contracting vehicles. Based on currently available information and our assessment of the marketplace, we expect revenues for fiscal 2016 to be in the range of $250 million to $280 million, net profit per share in the range of $1.40 to $1.70 per share and adjusted net profit(1) in the range of $1.49 to $1.79 per share.
All amounts are in Canadian Dollars.