Record-setting fiscal 2015 for Calian Technologies

Calian Technologies generated more revenue than ever before in fiscal 2015, president and CEO Kevin Ford said after the Ottawa-based firm released fourth-quarter and year-end results Tuesday.

“Our full-year revenue attainment of $242 million represents a 15 per cent increase year-over-year and the highest revenue level for Calian in our 33-year history,” Mr. Ford said in a statement. “Despite challenging market conditions I am very proud of the team’s efforts to execute our growth strategy, increase cash earnings by more than $1 million and continue to provide a solid return to our shareholders, paying $8.3 million in dividends this year.”

Fourth-quarter revenue was also up 12 per cent from the same period last year, at $60.9 million.

EBITDA in the quarter was $4.9 million, compared with $4.5 million for the fourth quarter of 2014. Year-end EBITDA was $17.2 million, compared with $16.2 million in the previous fiscal year.

Calian’s adjusted net profit was $3.1 million or 43 cents per share for the quarter, compared with $2.8 million or 38 cents per share in the same period last year. Year-end adjusted net profit was $10.8 million or $1.48 per share, compared with $10.7 million or $1.45 per share in fiscal 2014.

The company saw growth in both its Systems Engineering Division and its Business and Technology Services division, said CFO Jacqueline Gauthier, with the BTS division still getting strong support from recent acquisitions.

Mr. Ford said the company would embrace its diversity as part of its growth strategy by focusing on customer retention, diversification, evolution of its service lines and continuous process improvement.

The company’s diversity has also led the board of directors to propose a slight name change, Mr. Ford said.

“Although the company still has very deep technology roots, with expansion into areas such as health care and training, management has obtained board agreement to ask for shareholder approval to rename Calian Technologies Ltd. to Calian Group Ltd. to more accurately reflect the current business activities of the company,” he said.

Shareholders will vote on the name change at the next annual meeting in February.

Calian (TSX: CTY) is forecasting an even better fiscal 2016, with projected revenue of between $250 million and $280 million and adjusted net profit of between $1.49 and $1.79 per share.

Calian’s shares rose just over four per cent to $15.50 in afternoon trading on the Toronto Stock Exchange.