Miranda Q1 Results

Posted by Joe Zaller
May 05 2010

Earnings season continued today with Miranda Technologies reporting their first quarter results.

Here is a link to the company’s earnings press release.

The company’s revenues were down 13% versus the same quarter last year, and 19% versus the previous quarter. 

Revenue from the US market was down 50% y/y, while revenue from Canada and international markets both rose sharply.

In the company’s press release, Miranda CEO Strath Goodship said: “We continue to believe that broadcast markets have stabilized, however the timing and strength of a rebound remains uncertain. Sales momentum in International markets continues to build and we are seeing signs of a broad based recovery. Sales activity in North American markets, particularly the USA remains constrained, although we are hopeful the heightened product interest seen at NAB will translate into stronger revenues in these markets going forward. The new products introduced at NAB, along with a number of sporting and political events in 2010 should help drive revenues and position us for growth.”

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