News,Calian Technology six-month results
Calian Technology six-month results
Calian Technology Ltd CTY
Shares issued 8,738,438 May 5 close $3.60
Thu 6 May 99 News Release
Mr. Larry O'Brien reports
Calian Technology reported net income for the quarter ended March 31, 1999,
of $777,000, compared with net earnings of $452,000 for the second quarter
of fiscal 1998, representing an increase of 72 per cent. The basic earnings
per share were nine cents, as compared with five cents for the same period
last year and seven cents for the first quarter of this fiscal year. For
the six months ended March 31, 1999, the company recorded net earnings of
$1,386,000 representing an increase of $1,232,000 or 800 per cent over the
$154,000 recorded for the same period last year.
Revenues for the quarter increased $2.6-million or 13 per cent to
$23.0-million, as compared with $20.4-million for the same period last
year. Revenues for the six months ended March 31, 1999, were $43.5-million,
as compared with $37.3-million for the previous year, representing an
increase of $6.2-million or 16.6 per cent. Gross margin for the quarter was
17.0 per cent, an increase of .2 per cent from the first quarter this year
and a 2.1 per cent increase from the second quarter last year. Earnings
before interest, taxes, depreciation and amortization (EBITDA) for the
second quarter were $1,093,000, compared with $840,000 in the same quarter
last year, representing an increase of 30 per cent. Year-to-date EBITDA was
$1,972,000, compared with $827,000 at the end of the second quarter last
year, representing an increase of 138 per cent.
At the end of the second quarter, Calian Technology maintained a total
backlog of $121.7-million, representing an increase of $4.9-million from
the Dec. 31, 1998, ending position, and an increase of $13.1-million over
the same period last year. Total bookings for the quarter were
$27.9-million, compared with $16.6-million in the first quarter of fiscal
1999.
CONSOLIDATED STATEMENT OF EARNINGS
Three months ended March 31
1999 1998
Revenues $ 23,080 $ 20,402
Cost of
revenues 19,162 17,369
--------- ---------
Gross profit 3,918 3,033
Selling and
marketing 856 646
General and
administration 1,461 1,066
Facilities 508 481
Amortization 364 449
--------- ---------
Earnings before
interest and taxes 729 391
Interest income 65 91
--------- ---------
Earnings before
taxes 794 482
Income taxes 17 30
--------- ---------
Net earnings $ 777 $ 452
========= =========
Earnings per
share 9 cents 5 cents
CONSOLIDATED STATEMENT OF EARNINGS
Six months ended March 31
1999 1998
Revenues $ 43,510 $ 37,349
Cost of
revenues 36,166 31,598
--------- ---------
Gross profit 7,344 5,751
Selling and
marketing 1,661 1,257
General and
administration 2,645 2,699
Facilities 1,065 968
Amortization 718 766
--------- ---------
Earnings before
interest and taxes 1,255 61
Interest income 158 134
--------- ---------
Earnings before
taxes 1,413 195
Income taxes 27 41
--------- ---------
Net earnings $ 1,386 $ 154
========= =========
Earnings per
share 16 cents 2 cents
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