(All amounts in release are in Canadian dollars)
OTTAWA, August 10, 2022 – Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, today released its results for the third quarter ended June 30, 2022. Calian reports consolidated revenues of $150 million for its four operating segments, which is a 10% increase over the same quarter in the previous year.
Third quarter highlights:
- Revenue of $150 million, a 10% increase over Q3 FY21
- Gross margin of 30%, a new record for the Company and up from 25% in Q3 FY21
- Adjusted EBITDA of $16.1 million, an 8% increase over Q3 FY21
- Net cash up $10 million from the previous quarter on operating cash flow of $19.8 million
- New contract signings of $190 million
- Revenues outside Canada increased to 33% of total revenues
Access the full report on the Calian Financial Results web page.
Register for the conference call on Thursday, August 11, 2022, 8:30 a.m. Eastern Time
“Many of our concerted efforts to diversify our customer base beyond Canada and enter new markets with more differentiated offerings demonstrated some of their early returns,” said Kevin Ford, Calian CEO. “Our track record of deploying capital to drive long-term growth, margin expansion and profitability remains our focus. This quarter’s record results across revenues and margins only strengthens our position to continue on our various growth initiatives.”
The third quarter of 2022 carried on the Company’s continued growth through acquisition and margin expansion. Revenues year to date were $421 million compared to $390 million in FY21 and $309 million in FY20. Gross margins year to date were 28% compared to 24% in FY21 and 21% in FY20. The Company signed an additional $190 million in new contracts during the quarter and exited with a strong backlog of $1.3 billion.
“This was a strong quarter across many fronts. Our ability to continue to expand gross margins and EBITDA while maintaining top-line growth was impressive. We also continued our strong track record of converting this performance into cash flow,” said Patrick Houston, Calian Chief Financial Officer. “We posted operating cash flow of nearly $12 million and working capital contributed an additional $8 million in the quarter.”
“Our four piston segment model once again demonstrated the value of Calian’s diversity. While Advanced Technologies and Health faced some headwinds in year over year performance, our Learning and IT Cyber business units had strong performance to keep Calian group consolidated results on record pace,” said Kevin Ford. “We have adjusted our revenue guidance for the final quarter of our fiscal year to reflect timing around larger revenue opportunities in the Advanced Technologies segment and slower sales in Health as the industry rebounds from COVID, which has been offset by better margin performance across the business allowing us to maintain our EBITDA and net profit guidance.”
Guidance
CAD ‘000s
- Revenue: Low $560,000; High $585,000
- Adjusted EBITDA: Low $61,000; High $65,500
- Adjusted net profit: Low $44,000; High $48,000
À propos de Calian
Nous faisons avancer le monde. Calian® aide les gens à communiquer, à innover, à apprendre et à mener une vie saine et sûre. Chaque jour, nos employés vivent nos valeurs d’engagement envers le client, d’intégrité, d’innovation, de respect et de travail d’équipe pour concevoir des solutions fiables qui résolvent des problèmes complexes. C’est la confiance. Ingénierie. Entreprise stable et en pleine croissance depuis 40 ans, notre siège social se trouve à Ottawa et nos bureaux et projets couvrent les marchés nord-américains, européens et internationaux. Visitez calian.com pour découvrir des solutions innovantes en matière de soins de santé, de communications, d’apprentissage et de cybersécurité.
Les noms de produits ou de services mentionnés dans le présent document peuvent être des marques déposées de leurs propriétaires respectifs.
Demandes de renseignements des médias :[email protected] 613-599-8600 x 2298 Relations avec les investisseursinquiries:[email protected]
CLAUSE DE NON-RESPONSABILITÉ
Certaines informations contenues dans le présent communiqué de presse sont de nature prospective et sont soumises à des risques et incertitudes importants. Les résultats ou événements prévus dans ces déclarations peuvent différer matériellement des résultats ou événements réels. Ces déclarations sont généralement accompagnées de termes tels que “avoir l’intention”, “anticiper”, “croire”, “estimer”, “s’attendre à” ou d’autres termes similaires. Les facteurs susceptibles d’entraîner des résultats ou des événements différents des attentes actuelles comprennent, entre autres : l’impact de la concurrence sur les prix ; la rareté des professionnels qualifiés ; l’impact de l’évolution rapide des technologies et des marchés ; la perte d’activité ou le risque de crédit avec les principaux clients ; les risques techniques sur les projets à prix fixe ; les conditions générales du secteur et du marché et les taux de croissance ; la croissance internationale et les conditions économiques mondiales, y compris les fluctuations des taux de change ; et l’impact des consolidations dans l’industrie des services aux entreprises. Pour de plus amples informations concernant certains de ces facteurs et d’autres, veuillez consulter le dernier rapport annuel de la société et les autres rapports déposés par Calian auprès de la Commission des valeurs mobilières de l’Ontario. Calian décline toute intention ou obligation de mettre à jour ou de réviser les déclarations prévisionnelles, que ce soit en raison de nouvelles informations, d’événements futurs ou autres. Rien ne garantit que les résultats, performances ou réalisations réels exprimés ou sous-entendus dans les déclarations prospectives contenues dans la présente communication se produiront ou, s’ils se produisent, que des avantages pourront en être tirés.
Calian – Siège social – 770 Palladium Drive – Ottawa – Ontario – Canada – K2V 1C8
Tel : 613.599.8600 – Fax : 613-592-3664 – General info email : [email protected]
About Calian
We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.
Product or service names mentioned herein may be the trademarks of their respective owners.
Media inquiries:
613-599-8600 x 2298
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DISCLAIMER
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 · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: [email protected]
