Evertz Posts Results for Quarter Ending July 31, 2009

Posted by Joe Zaller
Sep 09 2009

Yesterday afternoon, Evertz posted their results for Q1 2010 (ended 7/31/09).

Here’s how these results compared to the same quarter a year ago:

* Revenue was $72m, up 6% overall

* US and Canada revenue down 7%

* International revenue (defined as outside the US and Canada) up 32%

* Earnings down about 20% — C$17.1m vs. C$21.4

* EPS C$.21 vs. C$.29

* R&D spend up $1.1m to $7.3m, up 17%

* C$4.1m FX loss vs. a gain of C$.04m

The US / Canada decrease in sales is perhaps not unsurprising given the economic conditions.  Seeing the international sales increase is very encouraging. 

On the earnings conference call Evertz executives declined to say where the international growth came from, but did mention that capita budgets of international state broadcasters (i.e. not advertiser funded) were somewhat more resilient than their commercial counterparts.  They also highlighted the fact that the company had recently completed a three week long international “roadshow,” during which the company put a large number of staff and C$1m worth of equipment on the road in support of international customers and channel partners. 

Here’s a link to the earnings press release.

If you want to listen to the earnings conference call rebroadcast, here are the numbers:

416-915-1035 or Toll-Free 1-866-245-6755

Pass code 254880.

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