April 27, 2009 / 9:13 PM / 9 years ago

UPDATE 1-Calian sees strong Q2, raises 2009 outlook

* Sees FY 2009 rev C$210 mln to C$225 mln

* Sees FY 2009 EPS C$1.80 to C$2.10

* Sees Q2 EPS C$0.67, rev C$60 million

April 27 (Reuters) - Canada’s Calian Technologies Ltd CTY.TO raised its full-year outlook as the technology services provider expects a better-than-expected second quarter, partly helped by strength in its Systems Engineering Division (SED).

Calian now expects earnings of C$1.80 to C$2.10 per share on consolidated revenue of C$210 million to C$225 million for the year.

It had previously forecast earnings of C$1.50 to C$1.70 per share, on revenue of C$200 million to C$220 million. For the second quarter, the company expects earnings of 67 Canadian cents per share on a revenue of C$60 million.

Second-quarter revenue came in higher than previously expected as SED experienced strong project activity and recent Business and Technology Services division contract wins ramped up faster, the company said in a statement.

Lower estimated costs on a fixed-price project and the recovery of investment tax credits boosted quarterly earnings by 11 Canadian cents a share, the company said.

Shares of the Kanata, Ontario-based company closed at C$14.50 Monday on the Toronto Stock Exchange. (Reporting by Ashutosh Joshi in Bangalore; Editing by Deepak Kannan)

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