Smart expansions just starting to pay off

Article Excerpt

CALIAN TECHNOLOGIES $20.20 (Toronto symbol CTY; TSINetwork Rating: Speculative) (613-599-8600; www.calian.com; Shares outstanding: 7.7 million; Market cap: $155.5 million; Dividend yield: 5.2%) 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 March 31, 2012, Calian’s revenue rose 3.7%, to $61.6 million from $59.4 million a year earlier. Earnings rose 12.8%, to $3.7 million, or $0.48 a share, from $3.3 million, or $0.42 a share. Just before the quarter ended, Calian bought Primacy Management Inc., of Burlington, Ontario. Since 2003, Primacy has been designing, building and managing in-store health clinics for Loblaw Companies (symbol L on Toronto). Primacy now operates 112 such clinics in Loblaw’s stores across Canada. Primacy will add about $3 million a year…