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Ottawa, Ontario – August 6, 2015: Calian Technologies Ltd. (TSX.CTY) today released unaudited results for the third quarter ended June 30, 2015.

The Company reported revenues for the quarter of $64.3 million, a 19% increase from the $53.8 million reported in the same quarter of the previous year. For the nine-month period ended June 30, 2015 the Company reported revenues of $181.3 million, a 16% increase from the revenues of $156.8 million in the prior year.

EBITDA(1) for the third quarter was $4.0 million, compared to $4.1 million in the same quarter of the previous year and for the nine-month period ended June 30, 2015, EBITDA(1) was $12.3 million, compared to $11.7 million in the prior year.

Net profit for the third quarter was $2.2 million or $0.30 per share basic and diluted, compared to $2.9 million or $0.39 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, net profit was $6.9 million or $0.94 per share basic and diluted compared to net profit of $8.0 million or $1.09 per share basic and diluted in the previous nine-month period. Adjusted Net Profit(1) for the third quarter was $2.5 million or $0.34 per share basic and diluted, compared to $2.7 million or $0.37 per share basic and diluted in the same quarter of the previous year. On a year-to-date basis, adjusted net profit(1) was $7.7 million or $1.05 per share basic and diluted compared to $7.8 million or $1.07 per share basic and diluted in the previous nine-month period.

(1) See caution regarding non-GAAP measures at the end of this press release

“Our 19% improvement in revenues this quarter is a reflection of the strong growth in SED revenues with strong support from our recent acquisitions. Overall consolidated gross margin percentages were lower than the prior year in both divisions as we continue to face the impact of increased competition, investments in products at our SED division coupled with an SED project mix biased towards lower-margin materials and subcontracts. As a result, our consolidated EBITDA was in line with the prior year but did not increase commensurate with the increased level of revenues” stated Jacqueline Gauthier, CFO.

"Despite challenging market conditions, we continue to see momentum and growth across both of our divisions and I am pleased to see our revenue growth continue as per our previous two quarters. Year to date we have improved cash flows, diversified our customer base and continue to execute key elements of our growth strategy. The significant IT service line win within our BTS division signed this quarter with the City of Toronto is a great example of our service line evolution strategy in action as we expand into the IT solutions market" stated Kevin Ford, President and CEO. "Looking forward, to counteract downward margin pressures, we continue to invest in our service lines in areas such as communications products and health care services in order to move into new higher margin segments".

"With a strong backlog of work and solid balance sheet, we are well equipped to grow revenues in future quarters. Our cash balance during the quarter was consistent with the prior quarter and reflects the ebbs and flows of our business, particularly with our SED division's project based business mix", continued Ford.

Management expects revenue growth over the prior year will be achieved through a combination of the stabilizing of our traditional markets, strong organic growth at the SED division, the incremental revenue of recent acquisitions and the successful execution of our growth strategy. However, we must caution that revenues realized are ultimately dependent on the extent and timing of future contract awards as well as customer utilization of existing contracting vehicles. In addition, the requirement to categorize certain acquisition payments as compensation expense will negatively impact fiscal 2015 earnings by approximately $0.15 per share. 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 $255 million, net profit per share in the range of $1.25 to $1.55 per share and adjusted net profit(1) in the range of $1.40 to $1.70 per share.

Caution regarding non-GAAP measures:

This press release is based on reported earnings in accordance with IFRS. Reference to generally accepted accounting principles (GAAP) means IFRS, unless indicated otherwise. This press release is also based on non-GAAP financial measures including EBITDA, adjusted net profit and adjusted net profit per share. These non-GAAP measures are mainly derived from the interim consolidated financial statements, but do not have a standardized meaning prescribed by IFRS; therefore, others using these terms may calculate them differently. Management believes that providing certain non-GAAP performance measures, in addition to IFRS measures, provides users of our financial reports with enhanced understanding of our results and related trends and increases transparency and clarity into the core results of our business. Refer to the MD&A for definitions of these metrics and reconciliations to the most comparable IFRS measures.

About Calian

Calian employs over 2,300 people with offices and projects that span Canada, U.S. and international markets. The company's capabilities are diverse and include the provision of business and technology services to industry and government in the health, training, engineering and IT services domains as well as the design, manufacturing and maintenance of complex systems to the communications and defence sectors. Calian's services are delivered through two divisions. The Business and Technology Services (BTS) Division is located in Ottawa. This division delivers outsourcing services for a variety of technical and professional functions and provides health services to numerous domestic customers. Our strength lies in understanding clients’ needs, recruiting highly qualified personnel who understand and meet those needs, and then effectively managing those personnel within our customers’ framework. Calian’s Systems Engineering Division (SED) located in Saskatoon plans, designs and implements complex communication systems for many of the world’s space agencies and leading satellite manufacturers and operators. SED also provides contract manufacturing services for both private sector and military customers in North America.

For further information, please visit our website at, or contact us at [email protected] Kevin Ford President and Chief Executive Officer 613-599-8600 Jacqueline Gauthier Chief Financial Officer 613-599-8600


Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

Calian quarter results 2015 q3


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