Net profit up 28% YoY for Calian Group
Calian Group Ltd. has released its unaudited results for the second quarter ended 31st March 2017.
The company reported revenues for the quarter of $67.1m, a 2% decrease from the $68.1m reported in the same quarter of the previous year. For the six-month period ended 31st March 2017 the company reported revenues of $135.8m, a 2% increase compared to revenues of $132.6m in the prior year.
EBITDA for the second quarter was $6.2m, a 14.4% increase compared to $5.4m in the same quarter of the previous year and for the six-month period ended 31st March 2017, EBITDA(1) was $11.4m, a 7.7% increase compared to $10.6m in the prior year.
Net profit for the second quarter was $4.2m or $0.55 per share basic and diluted, a 28% increase compared to $3.3m or $0.44 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, net profit was $7.6m or $1.00 per share basic and diluted, an increase of 20% compared to net profit of $6.3m or $0.86 per share basic and diluted in the previous six-month period. Adjusted net profit for the second quarter was $4.2m or $0.55 per share basic and diluted, compared to $3.5m or $0.48 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, adjusted net profit was $7.6m or $1.00 per share basic and diluted compared to $6.9m or $0.93 per share basic and diluted in the previous six-month period.
Jacqueline Gauthier, CFO, commented, "Once again the team has delivered strong results for the quarter increasing profits by 28% and cash flows by 14.4%.
"Our 2% decrease in revenues this quarter is primarily related to timing of new projects at our SED division; however we continue to track ahead for the 6 month period compared to fiscal 2016."
Kevin Ford, CEO, stated, "In support of the customer retention pillar of our growth strategy, we continue to see excellent execution across all of our services.
"Both divisions have achieved higher margins for the quarter and year-to-date periods in comparison to the previous year. This is due primarily to the successful completion of several projects allowing the retirement of end of project risks, solid product sales and a higher labor component in the current mix of projects which yields higher margins.
"This quarter we submitted our proposal for our DND health services contract. Our current contract will run to March 31, 2018 and we have no schedule from the government on when results of this competition will be released. We believe we have submitted an excellent competitive proposal, and are hopeful we can continue to be DND's healthcare program delivery partner for years to come.
"We are also very pleased to announce the acquisition of International Safety Research (ISR). This acquisition supports two elements of our growth strategy. With customer diversification, ISR brings new customers to Calian both domestically and globally. For our service line evolution pillar, ISR will strengthen our emergency management service capabilities in the nuclear sector and as well further strengthen our engineering pedigree, specifically in the chemical, biological, radiological nuclear and explosive (CBRNE) area.
"We are excited to have the ISR team as part of Calian, and believe their unique capabilities and skills will be a solid contributor to our long term growth objectives."
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