08.27.2009 03:00 PM
EVS Sees Brighter Days Ahead

OUGRÉE, BELGIUM: EVS Broadcast said business activity picked up a bit during the summer, portending a better second half of 2009. The server and software stalwart reported its final second-quarter results today, after having issued its revenue figures in July.

(Public, EBR:EVS) posted net income of 5 million euros (US$7.1 million) for its second quarter, on previously announced revenues of 18.7 million euros (US$26.7 million). Net income was down 67.5 percent compared to a year ago. Earnings before interest and taxes (EBIT) were 8.3 million euros (US$11.9 million).

EVS said summer book totaled 23.6 million euros (US$33.7 million), down 37.5 percent from last year.

Pierre L’Hoest, CEO of EVS said after some rough months that nearly stalled the broadcast industry, it’s beginning to move forward.

“This summer has seen more discussions with the clients, and the upcoming IBC tradeshow in Amsterdam should confirm this trend,” he said in a statement.

EVS chief financial officer Jacques Galloy said the outlook for the rest of the year was better, but not a complete recovery from last year.

“The global economic environment will continue to weigh on our business performance this year,” Galloy said. “Despite much lower sales, we have managed to control our costs during the downturn, delivering 47.6 percent EBIT margin over the first six months. Even though we expect a slightly better second half, it is clear that both revenues and profits will be much lower in 2009 than in record year 2008. All our drive is focused on 2010 and beyond.”

More from TVB on EVS:
July 15, 2009: EVS Beats Analysts’ 2Q Forecasts
EVS Broadcast said its second-quarter results were better than expected, though revenues were down significantly compared to last year.

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