OTTAWA, Feb. 05, 2020 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX.CGY) today released its quarterly results for the three-month period ended December 31, 2019.First quarter 2020 highlights:Revenue at $99.2 million, representing Calian’s sixth consecutive quarter of record revenueAdjusted EBITDA(1) at $8.4 million73rd consecutive profitable quarterNew contract signings of $87 millionDividend of $0.28 per share The Company reported revenues for the quarter of $99.2 million, representing a 24% increase from the $79.9 million reported in the same quarter of the previous year.Adjusted EBITDA(1) for the first quarter was $8.4 million or $1.04 per share basic and $1.03 per share diluted, an increase from $5.7 million or $0.73 per share basic and diluted in the same quarter of the previous year (Adjusted EBITDA in the first quarter included a favorable impact of $0.7 million from the adoption of IFRS 16).Adjusted net profit,(1) which excludes non-cash items related to our recent acquisitions, was $5.3 million or $0.67 per share basic and diluted for the quarter; this compares to $3.8 million or $0.49 per share basic and $0.48 diluted in the same period of the previous year.Net profit for the first quarter was $4.3 million or $0.55 per share basic and $0.54 per share diluted, an increase from $3.4 million or $0.43 per share basic and diluted in the same period of the prior year.“It is exciting to report another record quarter of consolidated revenue. Reflecting our growth, this is now our sixth consecutive quarter of achieving record revenue,” stated Patrick Houston, CFO. “The stability of our diversified business was evident in the quarter as Advanced Technologies, Health and IT posted solid revenue and EBITDA growth compared to the prior year’s first quarter.”“We have received very positive feedback regarding our reporting aligned to four segments, which we introduced at the end of our 2019 Q4 and full-year results. The four segments of Advanced Technologies, Health, Learning and Information Technology are highlighting our focus going forward and have helped simplify the Company for our shareholders,” said Kevin Ford, President and CEO. “On that note I was pleased to see the results of our diversified engine at work during the quarter. The Advanced Technologies segment posted very positive organic revenue growth of 68% from the same period a year earlier, with top line contributions from our large ground systems project and new mobile wireless product. Health revenues rose 10% from a year earlier as demand increased on our clinician services and psychological assessment services. IT similarly posted 9% revenue growth on stronger sales for our cyber security practice,” Ford said. “Learning revenues declined slightly, reflecting pace of demand on our core training contracts and a focus on securing new business,” continued Ford.“While first-quarter consolidated revenue grew 24% year-over-year, we also just announced a strategic acquisition for the Health segment in support of our growth objectives. On January 31 we announced the acquisition of health services companies Allphase Clinical Research Services Inc. and Alio Health Services Inc. (collectively, ‘Allphase/Alio’). The companies serve the pharmaceutical and medical device industry and the broader health care sector with clinical trial services, specialty medication support, community care and other services, all enabled by an innovative health care delivery management software application. This acquisition supports all four pillars of our growth framework. It diversifies our customer base into pharmaceuticals, home care and hospitals, and supports Calian’s innovation agenda with services enabled by sophisticated software.”“Continued investment in R&D, M&A and our own internal innovation will be critical to our long-term profitable growth and continued push into global markets. Our recent filing of a shelf prospectus is an important step in providing flexibility as we continue on our growth agenda,” stated Ford.Based on currently available information and our assessment of the marketplace, we expect revenues for fiscal 2020 to be in the range of $380 million to $410 million, adjusted EBITDA per share in the range of $4.25 to $4.55, and adjusted net profit per share in the range of $2.50 to $2.80.For Calian’s Financial Statements, MD&A and other disclosures, please visit our IR webpage at https://www.calian.com/en/investor-relations ; for more information contact us at [email protected].About Calian
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