Net profit up 27% YoY in Q4 2017 for Calian
Calian Group Ltd. has released its unaudited results for the fourth quarter ended 30th September 2017.
The company reported revenues for the quarter of $72.3m, a 5% increase from the $68.8m reported in the same quarter of the previous year. For the year ended 30th September 2017, the company reported revenues of $275.4m, which represents a slight increase over the revenues of $274.6m reported in the prior year.
EBITDA for the fourth quarter was $6.6m, a 25% increase compared to $5.3m in the same quarter of the previous year and for the year ended 30th September 30 EBITDA was $23.5m, a 7% increase compared to $22.0m in the prior year.
Net profit for the fourth quarter was $4.3m or $0.57 per share basic and $0.56 per share diluted, a 27% increase compared to $3.4m or $0.45 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, net profit was $15.4m or $2.03 per share basic and $2.01 per share diluted, an increase of 13% compared to net profit of $13.6m or $1.83 per share basic and diluted in the previous year. Adjusted net profit for the fourth quarter was $4.3m or $0.57 per share basic and $0.56 per share diluted, compared to $3.4m or $0.45 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, adjusted net profit was $15.4m or $2.03 per share basic and $2.01 per share diluted compared to $14.2m or $1.92 per share basic and diluted in the previous year.
"The results for this quarter continue to show a solid base of business in all of our service offerings", stated Jacqueline Gauthier, CFO. "The increase in revenues this quarter allowed the Company to report revenue levels slightly higher than the prior year. In addition, the Company was able to increase its EBITDA levels through improvement in gross margins and with the intangible amortization decreasing, net earnings returned to shareholders was significantly improved".
"Once again, the team has delivered solid results for our shareholders. I am extremely proud of their efforts in the quarter and full year results" stated Kevin Ford, CEO. "We continue to see progress across all elements of our four pillar growth strategy. Equally, I am very proud of our continued high customer satisfaction metrics across all of our services again this year – the Calian team is passionate about ensuring we are adding value to our customers objectives.
"Cleary, the recent announcement of our re-win of the DND health services contract which now includes RCMP and Veterans Affairs will be a highlight for the year. While adding considerable contracted backlog, which in total now exceeds $1 billion, our team is excited about continuing to work with the government to support the health and wellness of the Military, Veterans and RCMP members.
"With over 64 consecutive profitable quarters, positive cash flows, a strong balance sheet and enviable backlog, our financial position is very strong which provides the facility to continue to invest in innovation. Our recent announcement of our relationship with DCT Delta in the cable sector is just one example of the innovation that forms part of our DNA here at the company. While we are confident in our organic growth opportunities, we continue to search proactively for M&A opportunities that support our growth objectives.”
Management continues to focus on its key strategic initiatives. Traditional markets in which Calian operates are stable and management expects organic revenue and earnings growth 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 utilisation of existing contracting vehicles. Based on currently available information and our assessment of the marketplace, we expect revenues for fiscal 2018 to be in the range of $290m to $310m, net profit in the range of $1.90 to $2.20 per share.
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