Revenues up 11% at year-end 2018 for Calian
Calian Group Ltd. has released its unaudited results for the fourth quarter ended 30th September 2018.
The company reported revenues for the quarter of $78.7m, representing a 9% increase from the $72.3m reported in the same quarter of the previous year. For the year ended 30th September 2018, the company reported revenues of $305.0m, an 11% increase compared to revenues of $275.4m in the prior year.
EBITDA for the fourth quarter was $6.6m or $0.85 per share basic and $0.84 per share diluted which held consistent with the $6.6m or $0.86 per share basic and $0.85 per share diluted in the same quarter of the previous year and for the year ended 30th September 2018, EBITDA was $25.0m or $3.24 per share basic and $3.21 per share diluted, a 7% increase compared to $23.5m or $3.09 per share basic and $3.06 per share diluted in the previous year.
Net profit for the fourth quarter was $4.3m or $0.55 per share basic and diluted, which is consistent with the $4.3m or $0.57 per share basic and $0.56 per share diluted in the same quarter of the previous year. On a year-to-date basis, net profit was $16.1m or $2.08 per share basic and $2.07 per share diluted, an increase of 5% compared to net profit of $15.4m or $2.03 per share basic and $2.01 diluted in the previous year.
Jacqueline Gauthier, CFO, commented, "We completed the year with strong results – we grew consolidated revenues by 11% while improving earnings.
“We are also thrilled to report record annual revenues. The excellent gains achieved in each of our service lines provides us with the ability to re-invest profits for future growth.”
Kevin Ford, president and CEO, added, “I want to congratulate our staff on their efforts and thank our customers for their support this year. We have reached new milestones in the company’s history, signing our largest-ever ground systems contract at our SED division and crossing $300 million in consolidated revenues for the first time. Our BTS division also set a record with $228 million in revenue, for the first time exceeding $200 million.
“I am very pleased with the progress on our four-pillar growth strategy as reflected in our fourth quarter and full-year results. Over the year communications product sales were up approximately 30%, satellite software engineering services grew more than 25%, and we saw double-digit sales growth in all BTS service lines. The results demonstrate that we are on the right track with our organic and acquisitive strategies.
“While improving top and bottom line results, it is important to highlight that we continue to invest in research and development within our service lines, specifically in our communication systems and products. I’m excited about our progress in this area as these investments represent approximately $3 to $4 million in each of the last 2 years and are critical as we support our service line evolution growth pillar.
“With a contracted backlog of over $1 billion, positive cash flows and a strong balance sheet, Calian is uniquely positioned to leverage a strong financial position for continued investment in both organic and acquisitive growth.
“We closed two acquisitions by way of Secure Technologies and Priority One and, subsequent to year-end, we were very pleased to close our purchase of IntraGrain Technologies, our first acquisition for SED. IntraGrain provides us with a strong entry point into the growing AgTech sector as well as potential to leverage the company’s capabilities in adjacent sectors, both domestically and globally.
“With 68 consecutive profitable quarters under our belt, record revenues and a very talented, passionate team committed to successful customer delivery and our own growth objectives, I am very positive on Calian’s long-term growth prospects.”
Photo courtesy of Shutterstock.com