Calian Group set a new record for Q1 revenues, the Ottawa-based firm reported today, thanks to some help from last year’s local acquisition.
Revenues were $75.8 million for the period ending Dec. 31, 2017, a 10 per cent increase over 2016. Calian (TSX:CGY) says four per cent of that revenue growth came from its acquisition of Ottawa-based International Safety Research, a deal it closed last May.
ISR provides emergency preparedness training to governments and commercial customers, a field Calian CEO Kevin Ford says he sees a lot of potential in. He wouldn’t give specific market targets during the firm’s quarterly conference call, but Ford told analysts that today’s destructive hurricanes and worrying missile alerts are driving demand for these solutions – and Calian is investing accordingly.
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“It’s almost a daily event now where something’s happening in the world,” he said. “We think the market size is quite significant, and we have a good opportunity to continue to grow our footprint there.”
Ford also confirmed that Calian remains committed to its M&A strategy, telling analysts there are “dialogues happening on many fronts,” and the “pipeline is good” for future acquisitions.
Calian extended its streak to 65 consecutive quarterly profits with a net income of $4.1 million for the quarter, an increase of 20 per cent year-over-year.
The firm is setting its revenue guidance between $290 million and $310 million for fiscal 2018.
Calian shares were trading at $31.60 after its midday earnings call, a jump of nearly five per cent on the day.
You can hear more from Kevin Ford at the Telfer School of Management during the CEO of the Year Breakfast on March 15.
