Calian Technology Ltd. Reports Annual and Fourth Quarter 2000 Results: Annual Revenues Increase 33.6% to $126.5 Million.Business Editors KANATA, Ontario--(BUSINESS WIRE)--Nov. 22, 2000 Today, Calian Technology Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CTY CTY - /sit'ee/ or /C-T-Y/ [MIT] The terminal physically associated with a computer's system console. The term is a contraction of "Console tty", that is, "Console TeleTYpe". .) reported revenues of $126.5 million for the year ended September September: see month. 30, 2000 representing an increase of 33.6% from 1999 revenues of $94.7 Million. Revenues for the fourth quarter increased 18.8% to $31.6 million from $26.6 Million in the same period a year earlier. During its fourth fiscal quarter, Calian adopted the Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Institute of Chartered Accountants' new rules in accounting for income taxes. This resulted in a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. favourable impact to net earnings of $7.85 million for the quarter and for the fiscal year. The most significant impact of the new CICA CICA Competition In Contracting Act of 1984 (USA) CICA Canadian Institute of Chartered Accountants CICA Competition In Contracting Act CICA Criminal Injuries Compensation Authority (UK) rules was the recognition of the future benefit to Calian of the investment tax credits created in prior years, of research expenditures not yet deducted de·duct v. de·duct·ed, de·duct·ing, de·ducts v.tr. 1. To take away (a quantity) from another; subtract. 2. To derive by deduction; deduce. v.intr. , and prior years' net operating losses Net operating losses Losses that a firm can take advantage of to reduce taxes. not yet claimed on Calian's tax returns. Including the benefit of the change in accounting policy for income taxes referred to above, net earnings during the quarter were $8.8 million or $0.82 per share on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis, and were $12.4 million or $1.19 per share on a fully diluted basis for the year. If the benefit of this one-time item had not been included, thereby bringing the fiscal 2000 results back to a non-taxable non-taxable adj → nicht steuerpflichtig non-taxable adj non-taxable income → reddito non imponibile basis, net earnings during the quarter would have been $927,000 or $0.09 on a fully diluted basis, and would have been $4.6 million or $0.46 per share on a fully diluted basis for the fiscal year. For the fourth quarter of 1999, when Calian reported its results on a non-taxable basis, Calian had net earnings of $1.1 million or $0.11 per share on a fully diluted basis. For the full 1999 year, again on a non-taxable basis, Calian had net earnings of $3.4 million or $0.36 per share on a fully diluted basis. "All Canadian companies This is a list of companies from Canada.
Directory: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Current Companies are required to adopt the new Canadian New Canadian Noun Canad a recent immigrant to Canada accounting rules for income taxes during their fiscal years beginning in 2000. By adopting these new rules in fiscal 2000, Calian will be reporting its results on a fully taxed basis from now on, although cash taxes may not be payable for several years," said Brian The name Brian (sometimes spelled Bryan) comes from an Irish backround. It is of Celtic origin and its meaning may be "hill" or "strong, noble, and high"[1]. Aitken Aitken may refer to:
Working capital at September 30, 2000 was $15.9 million including cash of $10.6 million. Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. stood at $42.2 million or $4.07 per fully diluted share as compared to $26.2 million or $2.62 per fully diluted share a year earlier. As a result of the Company's strong efforts and increased spending in selling and marketing, bookings for the year totaled $134.8 million. In addition to continuing to generate significant business opportunities from the Company's existing customer base, Calian continued to penetrate its target market of Fortune 1000 firms in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , adding projects with such clients as Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. , Nokia Nokia (nō`kēä), town (1996 pop. 26,326), Western Finland prov., SW Finland, on Lake Näsijärvi. It is an industrial community where wood and rubber products are manufactured. , Siemens, Prentice Hall Prentice Hall is a leading educational publisher. It is an imprint of Pearson Education, Inc., based in Upper Saddle River, New Jersey, USA. Prentice Hall publishes print and digital content for the 6-12 and higher education market. History In 1913, law professor Dr. and Alcatel Alcatel Société Alsacienne de Constructions Atomiques, de Télécomunications et d'Electronique . Consolidated backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. as at September 30, 2000 was $116.6 Million as compared to $108.3 Million at last year-end, representing an increase of $8.3 Million or 7.7%. During the year Calian made significant investments to bolster This article is about the pillow called a bolster. For other meanings of the word "bolster", see bolster (disambiguation). A bolster (etymology: Middle English, derived from Old English, and before that the Germanic word bulgstraz its strength in all areas of its operations. In February of this year, the Company acquired MacDonald & Brisson, a staffing services company that provided significant additional resources and customers and that will serve to strengthen Calian's position in the Business to Employee (B2E B2E Business to Employee B2E Business to Enterprise ) market. In March, Calian acquired Learning-Portal.com and Productivity Point International Ottawa. These acquisitions will assure Calian of a leadership position in the B2E services market. Calian has made progress in strengthening its offerings through the creation of several partnerships and alliances over the past year. These initiatives include providing resourcing services to Inbusiness (formerly NewSys), Xwave, LGS LGS Laser Guide Star LGS Lennox-Gastaut Syndrome LGS Leaky Gut Syndrome LGS Langer-Giedion Syndrome LGS Light Gauge Steel (steel frame construction system) LGS Looking Glass Studios (game development company) , Lockheed Martin and CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. . In March, Calian and Informix Corporation announced an alliance that created the first ever Informix Centre of Excellence in Canada. These partnerships provide Calian with increased sales channels, additional reference sources, and the ability to continue to provide leading edge solutions for our customer base. To assist in managing Calian's continuous growth, we introduced a world-class ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. system toward the end of the fiscal year. As anticipated, Calian is benefiting from better internal and back office systems capabilities and is establishing a foundation for improved growth and performance in the long term. During the fourth quarter the Company also added several new positions in administrative functions to keep pace with the growth of the organization. Calian has gained formal recognition for our progress towards realizing our Vision of being "one of the best companies to work for, buy from and invest in". Recently, Mediacorp Canada Inc selected Calian's Systems Engineering division based in Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. as one of Canada's top 100 Employers Canada's Top 100 Employers is an annual competition that recognizes the best places in Canada to work. First held in 1999, the project aims to single out the employers that lead their industries in offering exceptional working conditions and progressive human resources policies. . Calian will be included in
Mediacorp's book profiling the top 100 employers to be released in
June 2001.In February, Calian was awarded the uplink (1) Transmitting from an earth station to a satellite. Contrast with downlink. (2) A port on a network device that is used to connect to another network device rather than a client or server. See MDI port. delivery and management system software contract from XM Satellite Radio Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :XMSR XMSR XM Satellite Radio (formerly AMRC) ). Calian will design, manufacture and install the Uplink Delivery System that encodes and relays radio programming from the centre in Washington D.C. In March the Systems Engineering division further boosted Calian revenues, winning a $1.5 million contract to supply customized RF test fixture
Test fixture refers to the fixed state used as a baseline for running tests in software testing. to a major telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. equipment provider. Both of these contracts are key examples of the Company's ability to leverage its existing skill sets into emerging growth-oriented markets. "Our ability to continuously leverage the knowledge gained from our previous projects is the key to improving our profit margins and to ensuring our sustained competitive advantage," said Shaun McEwan, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our methodologies for design, creation, implementation and maintenance of workforce productivity solutions allow us to deliver complete solutions to our customers. Combine this with our recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenue streams from our resourcing and hosting activities and we have all of the key attributes for success in the Business to Employee space - an area of the overall services market that we believe will be the next most significant business need." About Calian Calian is a workforce productivity solutions provider focusing on the Business to Employee (B2E) sector. Calian's solutions focus on all aspects of employee attraction, development, and retention. Calian, through a series of strategic offerings, assists clients in attracting key resources and in taking advantage of e-Business technologies to leverage their knowledge capital. Calian's Systems Engineering division provides leading-edge communications infrastructures to the telecommunications and government sectors. Ranking among the top professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. organizations in Canada, Calian has annual revenues of more than $125 Million. Investing in new markets and new opportunities, Calian now serves customers in over 14 countries on six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. through its three principal locations in North America.
CALIAN TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF EARNINGS
(dollars in thousands except per share data)
Three months ended Year ended
September 30, September 30,
--------------------- ---------------------
2000 1999 2000 1999
---------- ---------- ---------- ----------
(unaudited)
Revenues $ 31,597 $ 26,600 $126,548 $ 94,733
Cost of revenues 24,470 21,181 100,531 77,384
---------- ---------- ---------- ----------
Gross profit 7,127 5,419 26,017 17,349
---------- ---------- ---------- ----------
Selling and marketing 1,943 1,174 7,059 3,851
General and administration 2,697 1,412 9,556 5,653
Facilities 988 603 2,868 2,219
Amortization of capital
Assets 612 523 1,898 1,465
Prior years' investment
tax credits (3,423) -- (3,423) --
Other income (50) -- (251) --
---------- ---------- ---------- ----------
2,767 3,712 17,707 13,188
---------- ---------- ---------- ----------
Earnings before interest,
taxes and amortization
of goodwill 4,360 1,707 8,310 4,161
Interest income, net 54 25 299 249
---------- ---------- ---------- ----------
Earnings before taxes and
amortization of goodwill 4,414 1,732 8,609 4,410
---------- ---------- ---------- ----------
Income taxes - current 1,420 526 1,506 571
- future (5,907) -- (5,907) --
---------- ---------- ---------- ----------
(4,487) 526 (4,401) 571
---------- ---------- ---------- ----------
Earnings before amorti-
zation of goodwill 8,901 1,206 13,010 3,839
Amortization of goodwill 121 144 566 406
---------- ---------- ---------- ----------
NET EARNINGS $ 8,780 $ 1,062 $ 12,444 $ 3,433
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Earnings per share before
amortization of goodwill
Basic $ 0.92 $ 0.14 $ 1.37 $ 0.44
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Fully Diluted $ 0.83 $ 0.12 $ 1.24 $ 0.39
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Net earnings per share
Basic $ 0.90 $ 0.12 $ 1.30 $ 0.39
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Fully Diluted $ 0.82 $ 0.11 $ 1.19 $ 0.36
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Weighted average number
of shares
Basic 9,706,018 8,903,938 9,339,502 8,813,181
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Fully Diluted 10,745,250 10,300,861 10,379,801 9,995,625
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
CALIAN TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
September 30, September 30,
2000 1999
-------------- --------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 10,576 $ 19,692
Accounts receivable 23,121 17,090
Unbilled accounts receivable 4,853 4,397
Prepaid expenses and other 1,336 1,923
Future income taxes 3,276 --
-------------- --------------
43,162 43,102
GOODWILL 11,686 8,610
CAPITAL ASSETS 9,182 5,770
INVESTMENT TAX CREDITS RECOVERABLE 2,243 --
FUTURE INCOME TAXES 3,724 --
-------------- --------------
$ 69,997 $ 57,482
-------------- --------------
-------------- --------------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued
liabilities $ 11,586 $ 12,200
Unearned contract revenue 14,947 15,750
Note payable 334 --
Current portion of long-term debt 376 559
-------------- --------------
27,243 28,509
LONG-TERM DEBT 515 2,747
-------------- --------------
27,758 31,256
-------------- --------------
SHAREHOLDERS' EQUITY
Share capital 17,748 14,179
Retained earnings 24,491 12,047
-------------- --------------
42,239 26,226
-------------- --------------
$ 69,997 $ 57,482
-------------- --------------
-------------- --------------
CALIAN TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in thousands)
Year ended September 30,
2000 1999
-------------- --------------
OPERATING ACTIVITIES
Net earnings $ 12,444 $ 3,433
Items not affecting cash
Deferred lease inducements (28) (11)
Amortization 2,464 1,871
Investment tax credits (2,243) -
Future income tax assets (5,581) -
-------------- --------------
7,056 5,293
Change in non-cash working capital
Accounts receivable (4,525) (3,398)
Unbilled accounts receivable (456) 3,027
Prepaid expenses and other 643 (1,101)
Accounts payable and accrued
Liabilities (3,473) 1,168
Unearned contract revenue (1,029) 4,885
-------------- --------------
Cash flows provided from
operating activities (1,784) 9,874
-------------- --------------
FINANCING ACTIVITES
Repayment of debt (1,565) (1,101)
Issuance of common shares 780 548
Dividends -- (1,593)
Repurchase of common shares -- (352)
-------------- --------------
Cash flows from (used for)
financing activities (785) (2,498)
-------------- --------------
INVESTING ACTIVITES
Acquisition of capital assets (4,660) (1,351)
Proceeds on disposal of capital
assets 10 107
Business acquisitions (1,897) (4,242)
-------------- --------------
Cash flows used for investing
Activities (6,547) (5,486)
-------------- --------------
NET INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS (9,116) 1,890
CASH AND CASH EQUIVALENTS,
BEGINNING OF YEAR 19,692 17,802
-------------- --------------
CASH AND CASH EQUIVALENTS, END
OF YEAR $ 10,576 $ 19,692
-------------- --------------
-------------- --------------
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