Evertz Reports 1Q10

Sales Up, Profit Falls
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BURLINTON, ONTARIO, CANADA: Shares of Evertz Technlogies fell nearly 5 percent today on quarterly profits that came in lower than expected. Evertz (Public, TSE: ET) posted a fiscal first-quarter 2010 profit of 23 cents Canadian a share, versus the 29 cents a share expected by analysts, Reuters said. 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.

Sales were up, however, 6 percent, to C$72 million, on the strength of international business. North American sales fell 7 percent during the same period.

Shares of Evertz fell from around C$15.50 on the Toronto Stock Exchange to less than C$15 in today’s trading.

More from TVB on Evertz results:
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.