Business
Calian Reports Record EBITDA and Gross Margins in Third Quarter
Revenue of $136 million, an increase of 29%, and second highest quarterly revenue in company...
About this update from Calian Group Ltd.
[{"type":"text","content":"Calian Reports Record EBITDA and Gross Margins in Third QuarterRevenue of $136 million, an increase of 29%, and second highest quarterly revenue in company historyOTTAWA, ON / ACCESSWIRE / August 10, 2021 / Calian Group Ltd. (TSX:CGY), deliverer of trusted solutions across Advanced Technologies, Health, Learning and IT and Cyber Solutions segments, today released its quarterly results for the three-month period ended June 30, 2021.Calian Group Ltd. (the \"Company\") reported revenues for the quarter of $136 million, representing a 29% increase from the $105 million reported in the same quarter of the previous year.Third quarter 2021 highlights:Quarterly revenue of $136 million, an increase of 29%Record level of adjusted EBITDA at $14.9 million for the quarter, an increase of 66%Record gross margins of 25%Revenue growth over 15% for each of the four operating segmentsAdjusted net profit increased by 98%79th consecutive profitable quarterNew contract signings of $113 million in the quarterDividend of $0.28 per share\"This quarter's performance demonstrates our focus on organic and acquisitive growth with excellent execution,\" said Kevin Ford, Calian CEO. \"Our strategic focus on customer diversification continues, with our Advanced Technologies segment landing a contract with a major electric vehicle manufacturer and our IT and Cyber Solutions segment introducing two dozen new customers in the third quarter.\"Adjusted EBITDA for the third quarter was $14.9 million, an increase of 66% from $9 million in the same quarter of the previous year. Adjusted net profit, which excludes non-cash items related to recent acquisitions, was $11.1 million for the quarter, which increased by 98% from $5.6 million in the same period of the previous year.\"This quarter represents a new high for the Company in both gross margins and adjusted EBITDA,\" said Patrick Houston, Calian CFO. \"This was achieved through contributions from all four segments which have grown double digits in the last year.\"Calian is proud to play a key role in the response to the COVID-19 pandemic. In the third quarter, Calian healthcare professionals vaccinated more than 50,000 Canadians at 19 pop-up clinics and managed seven rapid testing initiatives across Canada.\"Our strong performance through our first three quarters, and our continued momentum have allowed us to incre...