(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.
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