(All amounts in release are in Canadian dollars)
OTTAWA, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, is announcing certain preliminary, unaudited financial results for its FY23 ended September 30, 2023.
- Adjusted EBITDA is expected to be at the top end of the guidance range.
- Revenues are expected to be in the middle of the guidance range.
- Repurchased 50,512 shares in accordance with the normal course issuer bid since the launch of the program (32,094 shares in FY23).
"We are updating our estimates with regards to the FY23 guidance based on a strong finish in our fourth quarter. These preliminary results represent the highest ever revenue and adjusted EBITDA quarter and the 6th consecutive year of double-digit revenue growth. We look forward to discussing these results after we release them on November 27th," said Kevin Ford, Calian Chief Executive Officer.
These preliminary results are based on information available to Calian as of the date of this release and are subject to the completion of the Company's year-end financial reporting process, reviews and audit. Financial results for the year ended September 30, 2023, will be released on November 27, 2023, after financial markets close. Calian will not provide any additional comments or details until after the annual audited consolidated financial statements have been published.
As a reminder, see below the revised guidance issued on August 10, 2023:
| Guidance for the year ended Sept. 30, 2023 | |||||
| (in thousands of Canadian $) | Low | High | |||
| Revenue | 630,000 | 680,000 | |||
| Adjusted EBITDA | 60,000 | 65,000 | |||
| Adjusted Net Profit | 36,000 | 40,000 | |||
Note: This guidance includes Hawaii Pacific Teleport effective on August 1st, and benefits from the restructuring plan, but excludes the one-time restructuring cost of approximately $2 million to be recorded in Q4.
About Calian
We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation and teamwork to engineer reliable solutions that solve complex problems. That's Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets.
Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.
Product or service names mentioned herein may be the trademarks of their respective owners.
Media inquiries:
pr@calian.com
613-599-8600 x 2298
Investor Relations inquiries:
ir@calian.com
DISCLAIMER
Certain 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 disclosure will occur, or if they do, that any benefits may be derived from them.
Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com
