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Calian Technologies first-quarter profit rises to $3.6 million

By The Canadian Press  | February 08, 2012
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OTTAWA - Technology consulting firm Calian Technologies Ltd. (TSX:CTY) reported Wednesday a first-quarter profit of $3.6 million, up from a year-earlier $3.1 million, as revenues increased seven per cent.

The Ottawa-based firm said it earned 47 cents per share, compared with 41 cents per share in the same quarter of the prior year. Revenues rose to $56.8 million from $53.3 million in what the company described as its best opening quarter ever.

"Our Systems Engineering Division division had a strong quarter, bolstered by heightened activity levels in the manufacturing group due to a significant short-term requirement from one of our U.S. military customers," president and CEO Ray Basler said in a statement.

"Likewise, our Business and Technology Services division continued its positive momentum, producing growing revenues from increased activity in all major sectors."

Calian said that it believes its key markets will remain "relatively strong, although we are aware of the potential impact of government cost cutting initiatives and increased competitive pressures."

Based on its current information, the company said it expects revenues for 2012 of between $230 million and $250 million and net earnings per share from $1.70 to $1.95.

Calian shares were up 40 cents to $18.75 in afternoon trading on the Toronto Stock Exchange.

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