CALIAN TECHNOLOGIES $20.80 - Toronto symbol CTY

CALIAN TECHNOLOGIES $20.80 (Toronto symbol CTY; TSINetwork Rating: Speculative) (613- 599-8600; www.calian.com; Shares outstanding: 7.6 million; Market cap: $158.1 million; Dividend yield: 5.4%) 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, 2012, Calian’s revenue rose 1.9%, to $57.9 million from $56.8 million a year earlier. Earnings fell 5.3%, to $3.4 million, or $0.45 a share, from $3.6 million, or $0.47 a share.

The Business and Technology Services division continues to benefit from steady orders from various Canadian federal government departments, including the Department of National Defence. However, these clients placed fewer orders in the latest quarter, which pushed down the division’s revenue by 1%. That hurt Calian’s profit margins, which lowered its earnings.

The company holds cash of $31.4 million, or $4.13 a share, and has no debt. The stock has a high annualized yield of 5.4%.

Calian Technologies is still a buy.

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