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Calian sees modest earnings, revenues increase in Q4

(Stock image)

(Stock image)

Published on November 9, 2011
Published on November 9, 2011
OBJ Staff  RSS Feed

Calian Technologies Inc. (TSX:CTY) eked out a gain in its revenues and earnings for the fourth quarter.

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Calian

The technology services seller reported fourth-quarter revenues of $55.4 million, up five per cent from the $52.9 million posted last year.

Earnings were up to $3.3 million or $0.43 per share compared with $3.2 million or $0.42 per share in 2010.

On an annual basis, Calian saw its fiscal earnings decline slightly to $13.2 million, from $13.6 million last year. Revenues increased to $226.7 million, from $215.7 million.

The company is cognizent of "government cost-cutting initatives" as it looks into the next year – something it warned shareholders about before, in the spring – but maintained it is optimistic revenues and earnings will stay steady in 2012.

Calian forecast revenues of between $230 million and $250 million in fiscal 2012, and earnings of $1.65 to $1.90 a share.

"We were pleased to end the fiscal year on a strong note, with both divisions showing increased revenues relative to the prior year," stated Ray Basler, Calian's president and chief executive.

"Our (systems integration) division had a strong quarter with steady levels of activity in both its manufacturing and engineering groups. Likewise, our (business and technology services) division continued its positive momentum-producing solid revenues, with an uptick in activity in both its short term staffing and outsourcing groups."

Calian paid its shareholders a dividend of $0.26 per share, an increase from the last quarter.

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