CALIAN TECHNOLOGIES $18.90 - Toronto symbol CTY

CALIAN TECHNOLOGIES $18.90 (Toronto symbol CTY; TSINetwork Rating: Speculative) (613-599-8600; www.calian.com; Shares outstanding: 7.6 million; Market cap: $143.6 million; Dividend yield: 5.5%) operates in two areas: the business and technology services division (which supplies 70% of Calian’s revenue) provides engineers, health care workers and other skilled professionals to clients on a contract basis. The systems engineering division (30% of revenue) sells hardware and software for testing, operating and managing satellite and other communication systems.

In the three months ended December 31, 2011, Calian’s revenue rose 6.7%, to $56.8 million from $53.3 million a year earlier. Earnings rose 14.4%, to $3.6 million, or $0.47 a share, from $3.1 million, or $0.41 a share.

Sales rose at the systems engineering division, partly due to an increase in U.S. military orders. The business and technology services division also saw continued strong demand. Calian’s backlog now stands at $665 million, with contracts running to 2018.

The company holds cash of $28.6 million, or $3.71 a share, and has no debt. Calian raised its quarterly dividend by 4.0%, to $0.26 from $0.25, with the December 2011 payment. The shares now yield 5.5%.

Calian Technologies is still a buy.

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