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%) has reported improved results in the latest quarter. In the three months ended September 30, 2012, Calian earned $3.4 million, or $0.44 a share. That’s up slightly from $3.3 million, or $0.43 a share, a year ago. Revenue rose 4.9%, to $58.1 million from $55.4 million. Calian’s Business and Technology Services division, which provides 70% of the company’s overall revenue, continues to benefit from steady orders from various Canadian federal government departments, including the Department of National Defence. The company holds cash of $32.0 million, or $4.16 a share, and has no debt. It pays a quarterly dividend of $0.26 a share. That gives the stock a high annualized yield of 5.4%. Calian Technologies is still a buy.