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/ 11.18.2010 12:00AM
EVS 3Q Revenues Climb 70 Percent
LIEGE, BELGIUM: EVS Broadcast Equipment today reported
third-quarter revenues of €33.2 million (US$44.8 million), up nearly 70 percent
over the year-ago quarter. Net income was €12.4 million (US$16.7 million), up 120
percent.
“The IBC tradeshow in Amsterdam confirmed the slow but steady recovery of the
broadcast industry,” said EVS chief Pierre L’Hoest. “Most of our clients are
again looking at the future with more optimism. Advertising revenues are up
year on year, production companies see the new technologies as drivers for
their future growth. High definition is a strong driver for capturing new
clients and new sales.”
EVS chief financial officer, Jacques Galloy, noted that the most recent quarter
represented the seventh consecutive three-month period of growth.
“For 2010, we expect revenues to grow by more than 35 percent, while the EBIT
margin should be around 50 percent, despite all the investment we have made in
people, to prepare our future growth. The global order book of €29.8 million at
the end of October makes us looking at 2011 with mixed expectations: this will
be an odd year, without any major event--which represented more than €10
million of rentals in 2010)--benefiting from the industry recovery, while our
company invests in innovation and expansion. Above all, 2011 has the Olympic
year 2012 at the horizon.”
Global order book at €29.8 million (US$40.2 million)
was up 23 percent excluding big event rentals. It included €8.4 million
(US$11.3 million) to be invoiced in 2011 and beyond. A dividend of €1.16 is to
be paid out at the end of November.
EVS finished the third quarter with €36.8 million (US$49.7 million) and
financial long-term debt of €1.26 million (US$1.7 million). EVS shares were
trading today on the Brussels Exchange at €47.97, up €0.37 from yesterday’s
close.
-- Deborah D. McAdams
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