Calian Technology Reports First Quarter Results - Earnings Guidance Revised Upwards - Cash Position Strengthens

Business Wire, Jan 29, 2003

Business Editors

KANATA, Ontario--(BUSINESS WIRE)--Jan. 29, 2003

Calian Technology Ltd. (TSX:CTY) today released unaudited results for the first quarter of its fiscal year 2003, ended December 31, 2002. Revenues for the quarter were $34.8 million, up 15% from $30.3 million for the same quarter in the previous year. Net earnings were $1.1 million or $0.13 per share, compared to $0.4 million or $0.04 per share in the same quarter last year. Cash position increased to $12.3 million.

"The first quarter earnings were in line with our internal projections and position us well for a strong 2003," said Larry O'Brien, Chief Executive Officer. " We can now build on this success in quarters two, three and four, and continue our sustained, managed growth."

Highlights of the First Quarter:

-- Systems Engineering involves planning, designing and implementing solutions that meet a customer's specific business and technical needs, primarily in the satellite communications sector.

-- Staffing and Outsourcing Services involves both short and long-term placements of personnel to augment customers' workforces (Staffing) as well as the long-term management of projects, facilities and customer business processes (Outsourcing).

"It was a solid quarter for Calian and the demand for our services continues to grow" said Larry O'Brien. Based on the improved profitability of the Company's first quarter 2003, we are increasing our previously disclosed guidance and we now expect to complete fiscal 2003 with earnings per share in the range of $0.52 to $0.55."

About Calian

Calian Technology Ltd. (TSX:CTY) provides systems engineering and staffing and outsourcing services to industry and government in Canada, the United States and around the world. Calian provides customers with ready access to an exceptional team of over 2,300 engineers, telecommunications and technology professionals, and other highly qualified staff. The Staffing and Outsourcing Services Division augments customer workforces with flexible short and long-term placements, recruitment and outsourcing of engineering and other skilled professionals. The Systems Engineering Division plans, designs and implements solutions for many of the world's space agencies and leading communications satellite manufacturers and operators.

DISCLAIMER

Certain information included in this press release 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 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.

The information on this website is protected by copyright. Copyright (C) 2002 Calian Ltd. All rights reserved. Except as specifically permitted herein, no portion of the information on this website may be reproduced in any form or by any means without the prior written permission from Calian.