CALIAN TECHNOLOGY CONFIRMS NO CHANGES TO BUSINESS FUNDAMENTALS
Kanata, Ontario May 13, 2004 – At the request of Market Regulations Services Inc., Calian Technology Ltd. (TSX: CTY) would like to confirm that the Company's management has no knowledge of any material change in the Company that is currently affecting the trading price of its common shares. There has been no change to the fundamental business of the Company and there has been no material change to its current operations since the Company issued its second quarter results on April 19, 2004.
"There have been no significant changes to our business operations", stated Larry O'Brien Chairman and Chief Executive Officer. "We stand behind our recently issued guidance for 2004 of Earnings Per Share in the range of $1.05 to $1.15. Our strong backlog will also provide us with a good base of revenue for future years."
About Calian:
Calian Technology Ltd. (TSX:CTY) sells technology services to industry and government in Canada and around the world. Calian provides customers with ready access to an exceptional team of engineers, telecommunications and technology professionals, and other highly qualified staff. The Business and Technology 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, as well as providing contract manufacturing services for customers in North America.
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.
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