Calian Announces Strong Results for the First Quarter

Calian Technologies Ltd., a company offering business and technology services to industries and governments in the health, operations and maintenance and IT services, has announced its unaudited results for the first quarter ended December 31, 2011.

Company officials said that they are experiencing a strong start for new fiscal year, where the revenues for the quarter are $56.8 million, a 7 percent increase from the $53.3 million reported in the same quarter of the previous year.

The net earnings are said to be $3.6 million or $0.47 per share basic and diluted, compared to $3.1 million or $0.41 per share basic and diluted in the same quarter of the previous year.

Ray Basler, president and CEO said that they reported the highest level of first quarter revenues and earnings in the company’s history and they are very pleased to start the fiscal year on such a strong note and both divisions showed healthy increases in revenues relative to the prior year.

“Our SED 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 US military customers. Likewise, our BTS division continued its positive momentum, producing growing revenues from increased activity in all major sectors,” Basler said.

Basler further said that the recent contract signings have bolstered their confidence in meeting their financial targets, and revenues ultimately realized will be dependent on the extent and timing of future contract awards as well as customer utilization of existing contracting vehicles.

The company expects that revenues for 2012 to be in the range of $230 million to $250 million and net earnings in the range of $1.70 to $1.95 per share.

In other news, Calian Technologies Ltd. recently announced that its Systems Engineering Division (SED) has signed two new contracts for the provision of Satellite Ground Systems worth a combined value of $7.6 million.