Calian Reports Results for the First Quarter
OTTAWA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, today released its results for the first quarter ended December 31, 2023.
- “Steps to restore our efficiency are bearing fruit with gross margin at an all-time high and adjusted EBITDA1 margin bordering on 11%.
- These results demonstrate the strength of our business model, our diversification into new markets and offerings as well as the value creation generated from our M&A agenda.
- “In the first quarter we generated $14.2 million in operating free cash flow1, representing a 73% conversion rate from adjusted EBITDA1,” said Patrick Houston, Calian CFO.
- We ended the quarter with $139 million in net liquidity, well-positioned to pursue our growth objectives,” concluded Mr. Houston.