BURLINGTON, ONTARIO: Evertz Technologies posted fiscal fourth-quarter profits beating analyst expectations. The broadcast equipment maker reported earnings of C$15.3 million (US$14.8 million at current exchange rates), or 21 Canadian cents a share, versus C$20.8 million, or 28 Canadian cents a share a year earlier.
Sales for the fiscal quarter ending April 30, 2010, totaled C$75.3 million (US$72.9 million), down C$2 million from F2409. Analysts predicted average earnings of 20 cents a share Canadian on revenues of C$65.6 million, according to Thomson Reuters.
North American sales were down C$13.5 million or 28 percent in the quarter compared to a year ago. International sales grew C$11.5 million or 41 percent.Gross margin for the quarter was C$43.4 million, down from C$47.7 million, a year ago. Selling and administrative expenses fell by C$1.6 million compared to the prior year.
Cash at the end of April totaled C$133.8 million versus C$81.4 million the year before. Long-term debt was C$2.7 million versus C$3.5 million.Order backlog at the end of May was more than C$30 million; May shipments were more than C$25 million.
Full fiscal-year profit was C$20.8 million (US$20 million) on revenues of C$286.5 million (US$277.4 million), versus C$100.7 million on revenues of C$315.9 million for fiscal 2009.Evertz declared a dividend of 8 Canadian cents a share payable July 23. Shares of Evertz (TSE: ET) have gained nearly 7 percent year-to-date to trade at C$14.44.
-- Deborah D. McAdams
December 9, 2009: “Everts Results Drop on Weakness in NA Market”
The Canadian broadcast equipment maker posted F2Q net income of C$17.5 million (US$16.6 million) or 23 Canadian cents a share, compared to C$34.1 million or 46 Canadian cents a share a year ago. Revenues were down for the quarter 20 percent to C$73 million (US$68.8 million), though up from C$72 million the previous quarter.
September 9, 2009: “Evertz Reports 1Q10”
The broadcast equipment vendor reported earnings of C$17.1 million (US$15.8 million) for the quarter ending July 31, down from C$21.4 million a year ago.
June 18, 2009: “Evertz Reports Nearly Flat 4Q Profit”
Evertz Technologies Ltd.’s fiscal 4Q09 profit was nearly flat compared to a year ago, due to higher operating expenses that offset boosted revenues.
