Calian Group Swings To Profit In Q4

(RTTNews) - Calian Group Ltd. (CLNFF.PK), Wednesday announced that the company turned to profit in the fourth quarter, mainly due to the removal of the contingent earn-out related to Decisive, coupled with lower tax expenses, which was partially offset by higher interest expenses.

Net profit amounted to C$20.6 million, or C$1.80 per share, compared with a loss of C$568,000, or C$0.05 per share, last year.

Adjusted net profit increased to C$11.5 million, or C$1.00 per share, from C$10.5 million, or C$0.87 per share, in the previous year.

Revenue rose 12 percent, to C$203.2 million from C$181.2 million in the previous year.

On November 24, Calian's stock closed at $33.53 on the OTC Markets.