CALIAN TECHNOLOGIES $18.40 (Toronto symbol CTY; TSINetwork Rating: Speculative) (613- 599-8600; www.calian.com; Shares outstanding: 7.3 million; Market cap: $138.7 million; Dividend yield: 6.1%) operates in two areas: the business and technology services division (which supplies 70% of the company’s revenue) provides engineers, health care workers and other skilled professionals 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 June 30, 2014, the company earned $2.9 million, or $0.39 a share. That’s down 12.5% from $3.3 million, or $0.43 a share, a year earlier. Revenue declined 7.4%, to $53.8 million from $58.1 million.
Government clients add stability
The business and technology services division continues to benefit from recurring orders from Canadian federal government departments, including the Department of National Defence.
However, these clients placed fewer orders in the latest quarter, cutting the division’s revenue by 3.6%. That hurt Calian’s profit margins, which lowered its earnings.
Meanwhile, revenue at the systems engineering division fell 16.6% on lower spending by the Canadian defence department and U.S. military contractors. The company holds cash of $22.3 million, or $3.05 a share, and has no debt. It pays a quarterly dividend of $0.28 a share. That gives the stock a high 6.1% annualized yield.
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