Calian Fourth Quarter 2000 Results CALIAN TECHNOLOGY LTD. REPORTS ANNUAL AND FOURTH QUARTER 2000 RESULTS Annual revenues increase 33.6% to $126.5 Million Kanata, Ontario - November 22, 2000 - Today, Calian Technology Ltd. (TSE: CTY) reported revenues of $126.5 million for the year ended September 30, 2000 representing an increase of 33.6% from 1999 revenues of $94.7 Million. Revenues for the fourth quarter increased 18.8% to $31.6 million from $26.6 Million in the same period a year earlier. During its fourth fiscal quarter, Calian adopted the Canadian Institute of Chartered Accountants' new rules in accounting for income taxes. This resulted in a one-time favourable impact to net earnings of $7.85 million for the quarter and for the fiscal year. The most significant impact of the new CICA rules was the recognition of the future benefit to Calian of the investment tax credits created in prior years, of research expenditures not yet deducted, and prior years' net operating losses not yet claimed on Calian's tax returns. Including the benefit of the change in accounting policy for income taxes referred to above, net earnings during the quarter were $8.8 million or $0.82 per share on a fully diluted basis, and were $12.4 million or $1.19 per share on a fully diluted basis for the year. If the benefit of this one-time item had not been included, thereby bringing the fiscal 2000 results back to a non-taxable basis, net earnings during the quarter would have been $927,000 or $0.09 on a fully diluted basis, and would have been $4.6 million or $0.46 per share on a fully diluted basis for the fiscal year. For the fourth quarter of 1999, when Calian reported its results on a non-taxable basis, Calian had net earnings of $1.1 million or $0.11 per share on a fully diluted basis. For the full 1999 year, again on a non-taxable basis, Calian had net earnings of $3.4 million or $0.36 per share on a fully diluted basis. "All Canadian companies are required to adopt the new Canadian accounting rules for income taxes during their fiscal years beginning in 2000. By adopting these new rules in fiscal 2000, Calian will be reporting its results on a fully taxed basis from now on, although cash taxes may not be payable for several years," said Brian Aitken, Chief Financial Officer. Working capital at September 30, 2000 was $15.9 million including cash of $10.6 million. Shareholders' equity stood at $42.2 million or $4.07 per fully diluted share as compared to $26.2 million or $2.62 per fully diluted share a year earlier. As a result of the Company's strong efforts and increased spending in selling and marketing, bookings for the year totaled $134.8 million. In addition to continuing to generate significant business opportunities from the Company's existing customer base, Calian continued to penetrate its target market of Fortune 1000 firms in North America, adding projects with such clients as Lockheed Martin, Nokia, Siemens, prentice Hall and Alcatel. Consolidated backlog as at September 30, 2000 was $116.6 Million as compared to $108.3 Million at last year-end, representing an increase of $8.3 Million or 7.7%. During the year Calian made significant investments to bolster its strength in all areas of its operations. In February of this year, the Company acquired MacDonald & Brisson, a staffing services company that provided significant additional resources and customers and that will serve to strengthen Calian's position in the Business to Employee (B2E) market. In March, Calian acquired Learning-Portal.com and Productivity Point International Ottawa. These acquisitions will assure Calian of a leadership position in the B2E services market. Calian has made progress in strengthening its offerings through the creation of several partnerships and alliances over the past year. These initiatives include providing resourcing services to Inbusiness (formerly NewSys), Xwave, LGS, Lockheed Martin and CGI. In March, Calian and Informix Corporation announced an alliance that created the first ever Informix Centre of Excellence in Canada. These partnerships provide Calian with increased sales channels, additional reference sources, and the ability to continue to provide leading edge solutions for our customer base. To assist in managing Calian's continuous growth, we introduced a world-class ERP system toward the end of the fiscal year. As anticipated, Calian is benefiting from better internal and back office systems capabilities and is establishing a foundation for improved growth and performance in the long term. During the fourth quarter the Company also added several new positions in administrative functions to keep pace with the growth of the organization.
Calian has gained formal recognition for our progress towards realizing our Vision of being "one of the best companies to work for, buy from and invest in". Recently, Mediacorp Canada Inc selected Calian's Systems Engineering division based in Saskatoon as one of Canada's top 100 Employers. Calian will be included in Mediacorp's book profiling the top 100 employers to be released in June 2001. In February, Calian was awarded the uplink delivery and management system software contract from XM Satellite Radio Inc. (NASDAQ:XMSR). Calian will design, manufacture and install the Uplink Delivery System that encodes and relays radio programming from the centre in Washington D.C. In March the Systems Engineering division further boosted Calian revenues, winning a $1.5 million contract to supply customized RF test fixture to a major telecommunications equipment provider. Both of these contracts are key examples of the Company's ability to leverage its existing skill sets into emerging growth-oriented markets. "Our ability to continuously leverage the knowledge gained from our previous projects is the key to improving our profit margins and to ensuring our sustained competitive advantage,"said Shaun McEwan, President and CEO. "Our methodologies for design, creation, implementation and maintenance of workforce productivity solutions allow us to deliver complete solutions to our customers. Combine this with our recurring revenue streams from our resourcing and hosting activities and we have all of the key attributes for success in the Business to Employee space - an area of the overall services market that we believe will be the next most significant business need." About Calian: Calian is a workforce productivity solutions provider focusing on the Business to Employee (B2E) sector. Calian's solutions focus on all aspects of employee attraction, development, and retention. Calian, through a series of strategic offerings, assists clients in attracting key resources and in taking advantage of e-business technologies to leverage their knowledge capital. Calian's Systems Engineering division provides leading-edge communications infrastructures to the telecommunications and government sectors. Ranking among the top professional services organizations in Canada, Calian has annual revenues of more than $125 Million. Investing in new markets and new opportunities, Calian now serves customers in over 14 countries on six continents through its three principal locations in North America. View Q4 Consolidated Statement of Earnings ( unaudited ) View Q4 Consolidated Balance Sheets ( unaudited ) View Q4 Consolidated Statements of Cash Flow ( unaudited ) For further information, please contact: Greg Strong Vice President Corporate Communications Calian Ltd. Telephone: (613) 599-8600 Back to Quarterly Reports DISCLAIMER Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on firm fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. Information posted on this website was accurate at the time of posting, but may be superceded by subsequent information. "Calian" and the Calian Logo are Trademarks owned by Calian Technologies Ltd.
Calian Third Quarter 2000 Results CALIAN TECHNOLOGY LTD. REPORTS THIRD QUARTER RESULTS Quarterly Earnings Increase 35%-Revenues Up 41% To $34.6 Million Year To Date Earnings Increase 55%-Revenues Up 39% To $95 Million KANATA, Ontario - August 17, 2000 - Today, Calian Technology Ltd. (TSE: CTY) announced its financial results for the third quarter 2000 and nine-months ending June 30, 2000. Earnings for the quarter were $1.3 million versus $985,000 in the third quarter of 1999. Cash earnings per share for the quarter were $0.16 basic and $0.15 fully diluted. Net earnings per share amounted to $0.14 basic and $0.13 fully diluted. Revenues increased 41 % to $34.6 million, compared with $24.6 million in the same quarter of 1999. The figures for the nine months ended June 30, 2000 show earnings of $3.7 million versus $2.4 million for the same period last year. Cash earnings per share for the same period were $0.45 basic and $0.41 fully diluted compared with $0.30 and $0.28 respectively in the previous year. Net earnings for the period on a per share basis were $0.40 basic and $0.37 fully diluted, compared with $0.27 and $0.24 respectively in the previous year. Revenues were $95.0 million, up from $68.1 million, representing a 39% increase over the same period in 1999. Consolidated order backlog at June 30, 2000 was $128 million with bookings of $25 million for the quarter. Shaun McEwan, President and CEO, said: "Our third-quarter results are in line with our expectations and with the view that we've been expressing since last January. This is another quarter of strong revenue growth driven by our increased investments in sales and marketing. We are also pleased with our success in raising the aggregate operating margins. While I am pleased with these results, we will continue to make the necessary refinements in our business to ensure that we maximize long-term shareholder value. "I am also pleased to announce that during our third quarter we successfully went live on SAP. Over the past seven months, this required a significant effort by many of our employees, and I would like to personally thank all of them for helping Calian to implement a world-class ERP system. This investment not only provides us with better internal and back office systems capabilities, but also creates the foundation for improved growth and performance in the long term. "We have completed the third quarter with a renewed focus that aligns our already strong operating divisions. Calian is positioning itself to become the market leader in the emerging Business-to-Employee (B2E) space. New economy enterprises are facing significant challenges in increasing workforce productivity, and attracting and retaining key people. During the quarter, we completed the acquisition of Learning Portal.com and its sister company, the Ottawa franchise of Productivity Point International. These acquisitions are important strategic components in our efforts to provide comprehensive workforce productivity solutions to Global 2000 companies across North America. We are also making the necessary investments in strengthening our sales force, both in Canada and the United States." Highlights of the Quarter: Highlights for the quarter include the announcement of a contract for the Outsourcing division valued at approximately $5.2 million over 3 years. Calian will provide a team of engineers to work on the Canadian Space Agency's contribution to the International Space Station Program. The Company also reorganized its e-services division into e-business and e-learning arms so that it can provide dedicated service to each market segment. Calian also expanded its sales force in Southern Ontario in an effort to extend its market reach and add new clients. About Calian: Calian's e-business solutions focus on helping clients take advantage of new e-business technologies to leverage their knowledge capital, and make their workforces more productive and better informed. Human Asset Management solutions give our clients the ability to exercise critical workforce control. Systems Engineering provides leading-edge communications infrastructures to the telecommunications and government sectors. Ranking among the top professional services organizations in Canada, Calian has annual revenues of more than $100 Million and a staff base of more than 2,200. Investing in new markets and new opportunities, Calian now serves customers in over 14 countries on six continents. View Q3 Consolidated Statement of Earnings ( unaudited ) View Q3 Consolidated Balance Sheets ( unaudited )
View Q3 Consolidated Statements of Cash Flow ( unaudited ) Back to Quarterly Reports DISCLAIMER Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on firm fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. Information posted on this website was accurate at the time of posting, but may be superceded by subsequent information. "Calian" and the Calian Logo are Trademarks owned by Calian Technologies Ltd.
Calian Second Quarter 2000 Results CALIAN TECHNOLOGY LTD. REPORTS RECORD SECOND QUARTER RESULTS Revenues increase 36% to $31.4 Million for the quarter Kanata, Ontario, May 9, 2000 - Calian Technology Ltd. (TSE: CTY) reported record net earnings for the quarter ended March 31, 2000 of $1,235,000 representing an increase of $458,000 or 59% over the $777,000 reported for the second quarter of the 1999 fiscal year. The earnings per share were $.14 basic and $.12 fully diluted as compared to $.09 basic and $.08 fully diluted for the same quarter last year. Revenues for the quarter were $31.4 Million as compared to $23.1 Million for the same period last year representing an increase of $8.3 Million or 36%. Gross margin for the quarter was 19.4% which represents an increase of 2.4% over the second quarter last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter were $1,742,000 compared to $1,093,000 in the same quarter last year, representing an increase of 59%. Consolidated backlog at March 31, 2000 was $137.3 Million with bookings of $27 Million for the quarter, as compared to a backlog position of $141.1 Million at December 31, 1999. Highlights of this past quarter include: The systems engineering division signed a deal to provide the uplink delivery and management system software for XM Satellite Radio Inc.; The systems engineering division won a $1.5 million contract to provide LMDS test equipment to a telecommunications equipment provider; Acquired and integrated MacDonald & Brisson, a staffing services company; Announced the acquisition of Learning-Portal.com and Productivity Point International Ottawa in order to further enhance Calian's business to employee service offering; and The signing of a deal with Informix Corporation to create the first Informix Centre of Excellence in Canada. "Calian has turned in yet another outstanding quarter" commented Larry O'Brien, Chairman and CEO, "Our performance is directly related to the quality and enthusiasm of our more than 2,200 employees. I wish to thank them all for their continued hard work & dedication." Calian is a leading professional and technical services company helping customers become more successful through three strategic offerings: e-business solutions, Human Asset Management solutions, and Systems Engineering solutions. Calian's e-business solutions focus on helping clients take advantage of new e-business technologies to leverage their knowledge capital, and make their workforce more productive and better informed. Human Asset Management solutions give our clients the ability to exercise critical workforce control. Systems Engineering provides leading-edge communications infrastructures to the telecommunications and government sectors. Ranking among the top professional services organizations in Canada, Calian has annual revenues of more than $100 Million and a staff base of more than 2,200. Investing in new markets and new opportunities, Calian now serves customers in over 14 countries on six continents. Consolidated financial statements follow: CALIAN TECHNOLOGY LTD. CONSOLIDATED STATEMENTS OF EARNINGS (dollars in thousands except per share data) (unaudited) Three months ended March 31, Six months ended March 31,
2000 1999 2000 1999 Revenues Cost of revenues Gross profit $ 31,379 $ 23,080 $ 60,307 $ 43,510 25,302 19,162 48,628 36,166 6,077 3,918 11,679 7,344 Selling and marketing 1,657 856 3,200 1,661 General and administration Facilities 2,007 1,461 3,984 2,645 671 508 1,253 1,065 4,335 2,825 8,437 5,371 Earnings before depreciation and amortization, interest and income taxes (EBITDA) 1,742 1,093 3,242 1,973 Depreciation and other amortization Interest income, net Earnings before taxes and goodwill charges Income taxes Earnings before goodwill charges Goodwill charges NET EARNINGS 405 291 790 572 75 65 207 158 1,412 867 2,659 1,559 31 17 51 27 1,381 850 2,608 1,532 146 73 273 146 $ 1,235 $ 777 $ 2,335 $ 1,386 Earnings per share: Basic $ 0.14 $ 0.09 $ 0.26 $ 0.16 Fully Diluted $ 0.12 $ 0.08 $ 0.24 $ 0.15 Earnings per share before goodwill charges: Basic $ 0.15 $ 0.10 $ 0.29 $ 0.18 Fully Diluted $ 0.14 $ 0.09 $ 0.27 $ 0.16 Weighted average number of shares Basic 9,079,726 8,746,905 9,001,887 8,750,190 Fully Diluted 9,923,116 9,713,620 10,102,821 9,709,805 CALIAN TECHNOLOGY LTD. CONSOLIDATED BALANCE SHEETS (dollars in thousands) (Unaudited) March 31, 2000 September 30, 1999 (unaudited) CURRENT ASSETS Cash and cash equivalents $ 15,647 $ 19,692
Accounts receivable Unbilled accounts receivable Prepaid expenses and other 22,751 5,224 1,353 17,090 4,397 1,923 44,975 43,102 GOODWILL 9,828 8,610 CAPITAL ASSETS 7,066 5,770 $ 61,869 $ 57,482 CURRENT LIABILITIES Accounts payable and accrued liabilities Unearned contract revenue $ 10,785 19,775 $ 12,200 15,750 Current portion of long-term debt 518 559 31,078 28,509 LONG-TERM DEBT 320 2,747 31,398 31,256 SHAREHOLDERS' EQUITY Share capital Retained earnings 16,089 14,382 14,179 12,047 30,471 26,226 $ 61,869 $ 57,482 CALIAN TECHNOLOGY LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (dollars in thousands) (Unaudited) Six months ended March 31, 2000 1999 CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES Net earnings $ 2,335 $ 1,386 Items not affecting cash Deferred lease inducements 46 46 Amortization 1,063 718 3,444 2,150 Change in non-cash working capital Accounts receivable (4,809) (3,186) Unbilled receivable (827) 587 Prepaid expenses 572 (111) Accounts payable (2,297) (2,018) Unearned contract revenue 4,025 4,251 108 1,691 CASH FLOWS FROM (USED IN) FINANCING ACTIVITES Repayment of debt (1,489) (30) Issuance of common shares 551 - Dividend adjustment - 15
Repurchase of common shares - (201) (938) (216) CASH FLOWS FROM (USED IN) INVESTING ACTIVITES Acquisition of capital assets (2,058) (401) Business acquisitions (1,157) (56) (3,215) (457) NET CASH INFLOW (OUTFLOW) (4,045) 1,018 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 19,692 17,802 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 15,647 $ 18,820 Back to Quarterly Reports DISCLAIMER Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on firm fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. Information posted on this website was accurate at the time of posting, but may be superceded by subsequent information. "Calian" and the Calian Logo are Trademarks owned by Calian Technologies Ltd.
Calian First Quarter 2000 Results CALIAN TECHNOLOGY LTD. REPORTS RECORD FIRST QUARTER RESULTS Earnings, Revenues and Backlog at Record Levels Kanata, Ontario February 2, 2000 Calian Technology Ltd. (TSE:CTY) reported record net earnings for the quarter ended December 31, 1999 of $1,100,000 representing an increase of $491,000 or 81% over the $609,000 reported for the first quarter of the 1999 fiscal year. The earnings per share were $.12 basic and $.11 fully diluted as compared to $.07 basic and fully diluted for the same quarter last year. Revenues for the quarter were $28.9 Million as compared to $20.4 Million for the same period last year representing an increase of $8.5 Million or 42%. Gross margin for the quarter was 19.4% which represents an increase in absolute terms of 1.1% from the September 30, 1999 year end gross margin and an increase of 2.7% over the first quarter last year. Consolidated backlog at December 31, 1999 was $141.4 Million with bookings of $62 Million for the quarter. This represents an increase of $33.1 Million over the backlog position as at September 30, 1999. "The financial performance of Calian was outstanding during the first quarter," commented Larry O'Brien, Chairman and CEO, "but what is even more exciting is that with record backlog and substantial sales opportunities ahead, Calian is poised for yet another year of record growth." Calian Technology Ltd. sells e-business and Information Technology (IT) professional services, including management consulting, IT consulting, systems integration, outsourcing and IT staffing. Consolidated financial statements follow: CALIAN TECHNOLOGY LTD. CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS (dollars in thousands except per share data) Three months ended December 31, (Unaudited) 1999 1998 Revenues $ 28,928 $ 20,433 Cost of revenues 23,326 17,011 Gross profit 5,602 3,422 Selling and marketing 1,543 805 General and administration 1,977 1,180 Facilities 582 558 Amortization 512 354 Earnings before interest and taxes 988 525 Interest income 132 93
Earnings before taxes 1,120 618 Income taxes 20 9 NET EARNINGS 1,100 609 Retained earnings, beginning 12,047 8,790 Dividend adjustment - 15 Excess of purchase price over stated capital on repurchase of shares - (191) Retained earnings, ending $ 13,147 $ 9,223 Earnings per share: Basic $ 0.12 $ 0.07 Fully Diluted $ 0.11 $ 0.07 Weighted average number of shares Basic 8,924,047 8,738,438 Fully Diluted 10,282,525 9,705,990 CALIAN TECHNOLOGY LTD. CONSOLIDATED BALANCE SHEETS (dollars in thousands) December 31, 1999 September 30, 1999 (unaudited) CURRENT ASSETS Cash and cash equivalents Accounts receivable Unbilled accounts receivable Prepaid expenses and other $ 18,807 20,973 3,675 1,752 $ 19,692 17,090 4,397 1,923 45,207 43,102 GOODWILL 8,482 8,610 CAPITAL ASSETS 6,702 5,770 $ 60,391 $ 57,482 CURRENT LIABILITIES Accounts payable and accrued liabilities Unearned contract revenue Current portion of long-term debt $ 10,748 19,944 540 $ 12,200 15,750 559 31,232 28,509 LONG-TERM DEBT 1,723 2,747 32,955 31,256
SHAREHOLDERS' EQUITY Share capital Retained earnings 14,289 13,147 14,179 12,047 27,436 26,226 $ 60,391 $ 57,482 CALIAN TECHNOLOGY LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (dollars in thousands) (Unaudited) 1999 1998 CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES Net earnings $ 1,100 $ 609 Items not affecting cash Deferred lease inducements 23 23 Amortization 512 354 1,635 986 Change in non-cash working capital Accounts receivable (3,883) (3827) Unbilled receivable 722 1,105 Prepaid expenses 171 (17) Accounts payable (1,452) (3,476) Unearned contract revenue 4,194 5,623 1,387 394 CASH FLOWS FROM (USED IN) FINANCING ACTIVITES Repayment of debt (1,043) 10 Issuance of common shares 110 - Dividend adjustment - 15 Repurchase of common shares - (367) (933) (342) CASH FLOWS FROM (USED IN) INVESTING ACTIVITES Acquisition of capital assets (1,339) (169) Business acquisitions - (56) (1339) (225)
NET CASH INFLOW (OUTFLOW) (885) (173) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 19,692 17,802 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 18,807 $ 17,629 Back to Quarterly Reports DISCLAIMER Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on firm fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them. Information posted on this website was accurate at the time of posting, but may be superceded by subsequent information. "Calian" and the Calian Logo are Trademarks owned by Calian Technologies Ltd.