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:
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Revenue of $142 million, a 3% increase over Q2 FY21
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Gross margin of 28%, a new record for the Company (24% in the prior year)
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Adjusted EBITDA of $16.5 million is a new high and a 18% increase over Q2 FY21
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Adjusted net profit of $13.3 million, a 28% increase over Q2 FY21
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New contract signings of $160 million
"This quarter's performance establishes that the long-term strategic investments we made in the rapidly growing Cybersecurity and Global Defence markets are delivering returns for Calian." said Kevin Ford, Calian CEO. "Our initiative to deploy capital to drive long-term value was evident with the impressive performance of our Cybersecurity offerings including a strong start for our recent acquisition of Computex in the United States. Our strong pedigree in the military training market is yielding results in Europe as well as introduction of innovative technology in Canada."
The second quarter of 2022 carries on the Company's continued growth through acquisition and margin expansion. The Company signed an additional $160 million in new contracts during the quarter and exits with a strong backlog of $1.3 billion.
"Our performance this quarter was due to our diversified four piston engine. As one-time projects from our COVID response efforts last year wound down, we were able to more than offset these with tremendous growth in our IT and Cyber and Learning segments, at significantly higher gross margin and EBITDA margins," said Patrick Houston, Calian Chief Financial Officer.
"Our four guiding pillars of growth continue to deliver innovation to new and retained long-time customers as we continue our transformation into an innovative global company," said Kevin Ford. "Our guidance indicates another record year for Calian."
Guidance
| | | Low | | | High | |
| CAD '000s | | | | | | |
| Revenue | | | 580,000 | | | | 625,000 | |
| Adjusted EBITDA | | | 61,000 | | | | 65,500 | |
| Adjusted Net Profit | | | 41,500 | | | | 45,500 |