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CALIAN TECHNOLOGY Ltd. REPORTS
THIRD QUARTER RESULTS
Quarterly Earnings Increase 35%-Revenues Up 41% To $34.6 Million
Year To Date Earnings Increase 55%-Revenues Up 39% To $95 Million
Kanata, Ontario - August 17, 2000
- Today, Calian Technology Ltd. (TSE: CTY) announced its financial results for the third quarter 2000 and nine-months ending June 30, 2000. Earnings for the quarter were $1.3 million versus $985,000 in the third quarter of 1999. Cash earnings per share for the quarter were $0.16 basic and $0.15 fully diluted. Net earnings per share amounted to $0.14 basic and $0.13 fully diluted. Revenues increased 41 % to $34.6 million, compared with $24.6 million in the same quarter of 1999.
The figures for the nine months ended June 30, 2000 show earnings of $3.7 million versus $2.4 million for the same period last year. Cash earnings per share for the same period were $0.45 basic and $0.41 fully diluted compared with $0.30 and $0.28 respectively in the previous year. Net earnings for the period on a per share basis were $0.40 basic and $0.37 fully diluted, compared with $0.27 and $0.24 respectively in the previous year. Revenues were $95.0 million, up from $68.1 million, representing a 39% increase over the same period in 1999. Consolidated order backlog at June 30, 2000 was $128 million with bookings of $25 million for the quarter.
Shaun McEwan, President and CEO, said: "Our third-quarter results are in line with our expectations and with the view that we've been expressing since last January. This is another quarter of strong revenue growth driven by our increased investments in sales and marketing. We are also pleased with our success in raising the aggregate operating margins. While I am pleased with these results, we will continue to make the necessary refinements in our business to ensure that we maximize long-term shareholder value.
"I am also pleased to announce that during our third quarter we successfully went live on SAP. Over the past seven months, this required a significant effort by many of our employees, and I would like to personally thank all of them for helping Calian to implement a world-class ERP system. This investment not only provides us with better internal and back office systems capabilities, but also creates the foundation for improved growth and performance in the long term.
"We have completed the third quarter with a renewed focus that aligns our already strong operating divisions. Calian is positioning itself to become the market leader in the emerging Business-to-Employee (B2E) space. New economy enterprises are facing significant challenges in increasing workforce productivity, and attracting and retaining key people. During the quarter, we completed the acquisition of Learning Portal.com and its sister company, the Ottawa franchise of Productivity Point International. These acquisitions are important strategic components in our efforts to provide comprehensive workforce productivity solutions to Global 2000 companies across North America. We are also making the necessary investments in strengthening our sales force, both in Canada and the United States."
Highlights of the Quarter:
Highlights for the quarter include the announcement of a contract for the Outsourcing division valued at approximately $5.2 million over 3 years. Calian will provide a team of engineers to work on the Canadian Space Agency's contribution to the International Space Station Program. The Company also reorganized its e-services division into e-business and e-learning arms so that it can provide dedicated service to each market segment. Calian also expanded its sales force in Southern Ontario in an effort to extend its market reach and add new clients.
About Calian:
Calian's e-Business solutions focus on helping clients take advantage of new e-business technologies to leverage their knowledge capital, and make their workforces more productive and better informed. Human Asset Management solutions give our clients the ability to exercise critical workforce control. Systems Engineering provides leading-edge communications infrastructures to the telecommunications and government sectors.
Ranking among the top professional services organizations in Canada, Calian has annual revenues of more than $100 Million and a staff base of more than 2,200. Investing in new markets and new opportunities, Calian now serves customers in over 14 countries on six continents.
View Q3 Consolidated Statement of Earnings ( unaudited )
View Q3 Consolidated Balance Sheets ( unaudited )
View Q3 Consolidated Statements of Cash Flow ( unaudited )
For further information, please contact:
Greg Strong
Vice President
Corporate Communications
Calian
Telephone: (613) 599-8600
Fax: (613) 592-7771
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