Calian Technologies reported 2015 first-quarter results on Wednesday that saw the Ottawa-based company reverse a negative trend.
“This marks the first time in a number of quarters where we did not encounter a substantial drop in year-over-year revenues,” outgoing CEO Ray Basler said in a statement. “This is an indication that our efforts to bolster our non-government service offerings is starting to pay off.”
Revenues for the three months ending Dec. 31, 2014 were $56 million, eight per cent higher than the same quarter last year.
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Mr. Basler said another positive for the company was that revenue from acquisitions made in the last fiscal year “now represent a substantial component of our consolidated revenue base.”
First-quarter EBITDA was $4.4 million, up from $4.1 in the same quarter last year, while net profit of $2.5 million or 34 cents per share was down slightly from $2.8 million or 38 cents per share in the first quarter of the company’s fiscal 2014.
Overall gross margins were slightly lower than last year and Mr. Basler said he expects margins on new work to continue to be under pressure in both Calian’s SED and BTS divisions.
Kevin Ford, who takes over from Mr. Basler as CEO April 1, said the company signed significant contracts in the last quarter and its strong backlog of work and solid balance sheet positions it well for revenue growth in future quarters.
“Based on currently available information and our assessment of the marketplace, we expect revenues for fiscal 2015 to be in the range of $235 million to $ 265 million, net profit per share in the range of $1.35 to $1.65 per share and adjusted net profit in the range of $1.50 to $1.80 per share,” Mr. Ford said in a statement.
