November 21, 2022
The Caldwell Companions Worldwide Inc. (TSX: CWL), a Toronto-based supplier of govt search, final week reported income for its fiscal fourth quarter ended Aug. 31 fell 13.9% yr over yr to C$35.9 million (US$27.5 million).
Its IQTalent division, nonetheless, noticed progress with income up 19.4% yr over yr to C$12.2 million (US$9.3 million).
In Caldwell, the agency’s different enterprise phase, income fell 25.0% yr over yr within the fourth quarter to C$23.6 million (US$18.1 million).
Nonetheless, CEO John Wallace famous the previous yr was a report for the corporate by way of income and revenue. Wanting forward, Wallace famous some enterprise leaders at purchasers have grow to be extra cautious with considerations a couple of attainable financial downturn on the horizon and this has translated into a discount in hiring demand, particularly in know-how and retail.
“We noticed headwinds start late summer time and construct by early fall — particularly in our IQTalent phase, whose purchasers are weighted in direction of the know-how sector,” Wallace mentioned. “Accordingly, we now have taken actions to rightsize the workers with enterprise ranges for the close to time period.”
Share value and market cap
Earlier right now, shares in Caldwell have been buying and selling at C$1.82 (US$1.36), 17.42% above their 52-week low, based on FT.com. The corporate had a market cap of C$47.5 million (US$35.5 million).