Record revenues with 33% growth, coupled with Calian’s largest acquisition to date
OTTAWA, Wednesday, May 12, 2021 – Calian Group Ltd. (TSX:CGY), deliverer of trusted solutions across Advanced Technologies, Health, Learning & Information Technology segments, today released its quarterly results for the three-month period ended March 31, 2021.
Calian Group Ltd. (the “Company”) reported revenues for the quarter of $138 million, representing a 33% increase from the $104 million reported in the same quarter of the previous year.
Second quarter 2021 highlights:
- Record quarterly revenue of $138 million, an increase of 33%
- Record level of adjusted EBITDA (1) at $14.2 million for the quarter, an increase of 39%
- 78th consecutive profitable quarter
- New contract signings of $138 million in the quarter
- Dividend of $0.28 per share
“It is my pleasure to announce another record quarter for the Company with both revenue, and adjusted EBITDA at all-time highs,” said Kevin Ford, Calian CEO. “The performance of our Health segment was particularly impressive. We have seen increased demand across all of our Health services, and our team has been able to respond in short order, and deliver superior services in a very difficult environment.”
Adjusted EBITDA(1) for the second quarter was $14.2 million, an increase of 39% from $10.2 million in the same quarter of the previous year. Adjusted net profit,(1) which excludes non-cash items related to recent acquisitions, was $10.3 million for the quarter; which increased by 51% from the $6.8 million in the same period of the previous year.
“Our investments in organic revenue growth was evident with all four segments showing growth over the previous year. Our recent acquisitions in Advanced Technologies and Information Technology has contributed to our margin growth,” stated Patrick Houston, Calian CFO. “With the recent completion of our equity offering and our new debt facility, the Company is in excellent liquidity position to invest in our future growth.”
The Company closed the largest acquisition of its history in the quarter through Dapasoft Inc. This acquisition will facilitate Calian’s next chapter of growth and further expand its delivery of Healthcare, IT Services and Cybersecurity solutions to its clients.
“We had last updated our guidance in late February following the acquisition of Dapasoft Inc. We have maintained this guidance which would represent our fourth consecutive year of double digit revenue growth, and significantly higher EBITDA margins,” continued Ford. “I want to thank the Calian team for their continued service excellence and delivery in these trying times.”
GUIDANCE
- Revenue: Low $476,000, High $516,000
- Adjusted EBITDA: Low $45,000, High $49,000
- Adjusted net profit: Low $29,350, High $32,650
- Anticipated weighted average shares outstanding: 10,650,000
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 problems. 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:[email protected] 613-599-8600 x 2298 Investor Relations inquiries:[email protected]
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]