EVS Beats Analysts’ 2Q Forecasts
July 15, 2009
OUGRÉE, BELGIUM: EVS Broadcast said its second-quarter results were better than expected, though revenues were down significantly compared to last year. EVS posted revenues of 18.7 million euros (US$26.34 million) from 34.4 million euros a year earlier, a decline of nearly 46 percent. Five analysts polled by Reuters had EVS coming in with 17 million euros for 2Q.
Open order book as of July 1 totaled 8 million euros, excluding large event rentals. Analysts pegged book at 8.9 million euros.
“While this quarter still represents a strong decline compared to one year ago, we clearly feel that the discussions that have taken place over the last few months are confirming that the worst is behind us,” said Pierre L’Hoest, EVS CEO. “With the big events of 2010 approaching, investments that had been postponed in the difficult economic environment are coming back on the table. We are also broadening our product portfolio for sport TV solutions with the reinforcement of our R&D skills focusing on real time graphics for live sporting events.”