Improved software and training sales due to recent acquisitions helped generate a 21.7% jump in revenue for this company during the most-recent quarter.
A recent software release and other contracts emphasize the company’s strong relationships with the defense community.
The stock yields 3.4% after the most recent dividend raise.
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CALIAN GROUP LTD., (Toronto symbol CGY), has two main operations: Business and Technology Services (supplying 70% of the company’s revenue) provides clients with engineers, health-care workers and other skilled professionals on a contract basis; and Systems Engineering (30% of revenue) sells hardware and software for testing, operating and managing satellite and other communication systems.
The company has just won the renewal of its eLearning contract with the Department of National Defence to provide training-kit development support for the Canadian Army.
Calian will develop and support projects for the Army Learning Support Centre located in Gagetown, New Brunswick. The contract value is approximately $17 million over a term of about three years. The company has been providing eLearning services to the Army Learning Support Centre since 2007.
That support-centre contract is a small one compared to Calian’s sales of $93.4 million in the latest quarter. But for investors, it does emphasize the company’s long-term relationship with Canada’s Department of National Defence.
Value Stocks: New NATO software product shows promise
Meanwhile, the company has also just launched a new software product at the 14th NATO CA2X2 (Computer Aided Analysis, Exercise, Experimentation) Forum in Paris.
The new release, called Calian MaestroEDE, is military field exercise management software designed to fulfil complex training objectives. It does that while adhering to the Canadian and NATO five-step Systems Approach to Training.
Calian believes the software is ideally suited for today’s ever-changing military operational environment. Increasingly, forces are required to synchronize all elements of a large, complex, full-scale exercise.
The company developed the software for the Canadian military, but it hopes to sell it to other NATO members.
In its fiscal 2019 third quarter, ended June 30, 2019, Calian’s revenue jumped 21.7%, to $88.8 million from $73.0 million a year earlier. The gain was mostly due to recent acquisitions.
The company earned $4.3 million, or $0.54 a share. That’s up 10.3% from $3.9 million, or $0.50, a year earlier. Earnings rose less than revenues mostly due to higher costs because of the newly acquired operations.
Calian’s Business and Technology division continues to service repeat orders from several Canadian federal departments. They include the Department of National Defence and the RCMP. Overall, revenue for this business rose 12%.
The Systems Engineering business saw its revenue jump 56%, mostly due to the timing of several large projects. The division continues to win contracts with the Canadian Space Agency to provide support for its satellite operations.
Calian pays a quarterly dividend of $0.28 a share; the annual rate of $1.12 yields 3.4%. It raised its dividend five times between 2010 and 2012, and has held it steady since then.
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