Calian Technology Ltd. Reports Record Second Quarter Results: Revenues Increase 36% to $31.4 Million for the Quarter.Business Editors KANATA, Ontario--(BUSINESS WIRE)--May 9, 2000 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 record net earnings for the quarter ended March 31, 2000 of $1,235,000 representing an increase of $458,000 or 59% over the $777,000 reported for the second quarter of the 1999 fiscal year. The earnings per share were $.14 basic and $.12 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. as compared to $.09 basic and $.08 fully diluted for the same quarter last year. Revenues for the quarter were $31.4 Million as compared to $23.1 Million for the same period last year representing an increase of $8.3 Million or 36%. Gross margin for the quarter was 19.4% which represents an increase of 2.4% over the second quarter last year. Earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
Consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: 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. at March 31, 2000 was $137.3 Million with bookings of $27 Million for the quarter, as compared to a backlog position of $141.1 Million at December December: see month. 31, 1999. Highlights of this past quarter include: * The systems engineering division signed a deal to provide 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 for XM Satellite Radio Inc.; * The systems engineering division won a $1.5 million contract to provide LMDS (Local Multipoint Distribution Service) A digital wireless transmission system that works in the 28 GHz range in the U.S. and 24-40 GHz overseas. It requires line of sight between transmitter and receiving antenna, which can be from one to four miles apart test equipment to a telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. equipment provider; * Acquired and integrated MacDonald Mac·don·ald , Sir John Alexander 1815-1891. Canadian politician and the first prime minister of the Dominion of Canada (1867-1873 and 1878-1891). He is considered the organizer of the Canadian confederation, established in 1867. & Brisson Brisson may refer to:
* Announced the acquisition of Learning-Portal.com and Productivity Point International Ottawa Ottawa, city, Canada Ottawa (ŏt`əwə), city (1991 pop. 313,987), capital of Canada, SE Ont., at the confluence of the Ottawa and Rideau rivers. Hull, Que. in order to further enhance Calian's business to employee service offering; and * The signing of a deal with Informix A relational database management system (DBMS) from IBM that runs on a variety of Unix platforms. Originally developed by Informix Software, Menlo Park, CA, the product was acquired by IBM in 2001. Corporation to create the first Informix Centre of Excellence in Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . "Calian has turned in yet another outstanding quarter," commented Larry O'Brien
Lawrence "Larry" Francis O'Brien, Jr. (July 7 1917 – September 28, 1990) was one of the United States Democratic Party's leading electoral strategists when, for more than two , Chairman 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 performance is directly related to the quality and enthusiasm of our more than 2,200 employees. I wish to thank them all for their continued hard work & dedication." Calian is a leading professional and technical services company helping customers become more successful through three strategic offerings: e-Business (Electronic-BUSINESS) Doing business online. The term is often used synonymously with e-commerce, but e-business is more of an umbrella term for having a presence on the Web. solutions, Human Asset Management solutions, and Systems Engineering solutions. Calian's e-Business solutions focus on helping clients take advantage of new e-business technologies to leverage their knowledge capital, and make their workforce 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 (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 $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 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. . Consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge follow:
CALIAN TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF EARNINGS
(dollars in thousands except per share data)
(unaudited)
Three months ended Six months ended
March 31, March 31,
---------- ---------- ---------- ----------
2000 1999 2000 1999
---------- ---------- ---------- ----------
Revenues $ 31,379 $ 23,080 $ 60,307 $ 43,510
Cost of revenues 25,302 19,162 48,628 36,166
---------- ---------- ---------- ----------
Gross profit 6,077 3,918 11,679 7,344
---------- ---------- ---------- ----------
Selling and marketing 1,657 856 3,200 1,661
General and administration 2,007 1,461 3,984 2,645
Facilities 671 508 1,253 1,065
---------- ---------- ---------- ----------
4,335 2,825 8,437 5,371
---------- ---------- ---------- ----------
Earnings before
depreciation and
amortization,
interest and
income taxes
(EBITDA) 1,742 1,093 3,242 1,973
Depreciation and
other amortization 405 291 790 572
Interest income, net 75 65 207 158
---------- ---------- ---------- ----------
Earnings before
taxes and
goodwill charges 1,412 867 2,659 1,559
Income taxes 31 17 51 27
---------- ---------- ---------- ----------
Earnings before
goodwill charges 1,381 850 2,608 1,532
Goodwill charges 146 73 273 146
---------- ---------- ---------- ----------
NET EARNINGS $ 1,235 $ 777 $ 2,335 $ 1,386
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Earnings per share:
Basic $ 0.14 $ 0.09 $ 0.26 $ 0.16
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Fully Diluted $ 0.12 $ 0.08 $ 0.24 $ 0.15
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Earnings per share before goodwill charges:
Basic $ 0.15 $ 0.10 $ 0.29 $ 0.18
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Fully Diluted $ 0.14 $ 0.09 $ 0.27 $ 0.16
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Weighted average
number of shares
Basic 9,079,726 8,746,905 9,001,887 8,750,190
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Fully Diluted 9,923,116 9,713,620 10,102,821 9,709,805
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
CALIAN TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
(Unaudited)
March 31, September 30,
2000 1999
(unaudited)
CURRENT ASSETS
Cash and cash
equivalents $ 15,647 $ 19,692
Accounts
Receivable 22,751 17,090
Unbilled accounts
Receivable 5,224 4,397
Prepaid expenses
and other 1,353 1,923
---------- ----------
44,975 43,102
GOODWILL 9,828 8,610
CAPITAL ASSETS 7,066 5,770
---------- ----------
$ 61,869 $ 57,482
---------- ----------
---------- ----------
CURRENT LIABILITIES
Accounts payable
and accrued
liabilities $ 10,785 $ 12,200
Unearned contract revenue 19,775 15,750
Current portion of
long-term debt 518 559
---------- ----------
31,078 28,509
LONG-TERM DEBT 320 2,747
---------- ----------
31,398 31,256
---------- ----------
SHAREHOLDERS' EQUITY
Share capital 16,089 14,179
Retained earnings 14,382 12,047
---------- ----------
30,471 26,226
---------- ----------
$ 61,869 $ 57,482
---------- ----------
---------- ----------
CALIAN TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in thousands)
(Unaudited)
Six months ended March 31,
-------------------------------
2000 1999
---------- ----------
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES
Net earnings $ 2,335 $ 1,386
Items not
affecting cash
Deferred lease
Inducements 46 46
Amortization 1,063 718
---------- ----------
3,444 2,150
Change in non-cash
working capital
Accounts receivable (4,809) (3,186)
Unbilled receivable (827) 587
Prepaid expenses 572 (111)
Accounts payable (2,297) (2,018)
Unearned contract revenue 4,025 4,251
---------- ----------
108 1,691
---------- ----------
CASH FLOWS FROM
(USED IN) FINANCING
ACTIVITIES
Repayment of debt (1,489) (30)
Issuance of common shares 551 -
Dividend adjustment - 15
Repurchase of common shares - (201)
---------- ----------
(938) (216)
CASH FLOWS FROM (USED IN)
INVESTING ACTIVITES
Acquisition of
capital assets (2,058) (401)
Business acquisitions (1,157) (56)
---------- ----------
(3,215) (457)
---------- ----------
NET CASH INFLOW (OUTFLOW) (4,045) 1,018
CASH AND CASH EQUIVALENTS,
BEGINNING OF PERIOD 19,692 17,802
---------- ----------
CASH AND CASH
EQUIVALENTS,
END OF PERIOD $ 15,647 $ 18,820
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