Calian Group continued an impressive financial streak and set a new standard for quarterly revenues in the second quarter of fiscal 2018, the company said this week.
The Kanata-based firm reported revenues of $77.1 million for the three-month period ending March 31 – the highest quarterly figure in the company’s history and a 15 per cent increase over the $67.1 million it reported in the same quarter a year earlier.
Meanwhile, Calian (TSX:CGY) extended its run of consecutive quarterly profits to 66 with a net income of $3.9 million or 50 cents per share, down eight per cent from a year earlier.
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CEO Kevin Ford, who stepped away from day-to-day duties after suffering what Calian called a “cardiovascular event” in early April, said the company is committed to its strategy of growing both organically and through mergers and acquisitions.
Ford told analysts on a conference call the firm is constantly evolving its “M&A playbook” in anticipation of future acquisitions.
“There is definitely a pipeline, and we continue to work through that pipeline to ensure that if and when we decide to pull the trigger on the next acquisition that it’s going to be a good acquisition for Calian for both short- and long-term requirements,” he said.
Ford also touted a number of major new deals and contract renewals in the second quarter that could be valued at more than $60 million, saying such wins are “pillars of our growth strategy.”
Those deals include a renewed contract to provide engineering and other support services to the Royal Canadian Air Force that could be worth up to $20 million over the next three years. The company also signed new deals to provide IT and cybersecurity services to Shared Services Canada, the Canada Revenue Agency and Public Services and Procurement Canada.
The contracts could run up to four years with a total value of $11 million.
The affable chief executive, who was named Ottawa’s CEO of the Year by OBJ and the Ottawa Chamber of Commerce last November, assured analysts his recovery is going well.
Ford said he’s been working remotely on a part-time basis and expects to “ramp up back to full-time status” in the next few weeks. In his absence, Calian has established a CEO operating committee made up of executives Jerry Johnston, Pat Thera and Jacqueline Gauthier.
The firm is setting its revenue guidance between $290 million and $310 million for fiscal 2018.
