Business
Calian Announces Record Margins on Revenue of $142M - Second Quarter Results FY22
(All amounts in release are in Canadian dollars) OTTAWA, ON / ACCESSWIRE / May 11, 2022 ...
About this update from Calian Group Ltd.
[{"type":"text","content":"Calian Announces Record Margins on Revenue of $142M - Second Quarter Results FY22(All amounts in release are in Canadian dollars)OTTAWA, ON / ACCESSWIRE / May 11, 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 second quarter ended March 31, 2022. Calian reports consolidated revenues of $142 million for its four operating segments, which is a 3% increase from the $138 million reported in the same quarter of the previous year.Second quarter highlights:Revenue of $142 million, a 3% increase over Q2 FY21Gross margin of 28%, a new record for the Company (24% in the prior year)Adjusted EBITDA of $16.5 million is a new high and a 18% increase over Q2 FY21Adjusted net profit of $13.3 million, a 28% increase over Q2 FY21New contract signings of $160 millionCertain 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 disclos...