Broadcast server and slow-motion vendor EVS announced strong results for the third quarter of 2010, saying it was the seventh consecutive quarter of growth.
The company reported revenue of €33.2m, with gross margins of 83% and operating margins of 55%. Quarterly revenue jumped +69.4% vs. the same period last year, and was up 10% versus the previous quarter. EVS said that revenue for the quarter grew +53.4% at constant exchange rate and excluding the big events rentals in 2010.
The company also said that its order book had increased by 23.1% (excluding big event rentals) to €29.8m. Significantly 57.9% of the order book is for studio revenue.
On a segment basis, OB revenue was up 77.9% versus the same period a year ago and accounted for two-thirds of the total in the quarter. Studio revenue was 11.4m, 34.3% of the total.
On a geographic basis, EMEA revenue was €17.4m (52.5% of total), which is an increase of 33% compared to the same period a year ago. The company said that the transition to HDTV operations and tapeless workflows continue to drive growth in EMEA.
Revenue from the Americas jumped 149.7% versus Q3 2009 to €9.1m (27% of total). Stadiums were a key driver in the US market with 16 stadiums having bought new EVS solutions or upgraded existing equipment since the beginning of 2010. The company said that the market in Latin America is moving well.
APAC revenue grew 115.6% to €6.7m, with the Youth Olympic Games and Asian Games being cited as growth drivers.
Year to date, the company’s revenue was €84.3m, a 50.3% increase versus the first nine months of 2009. On a geographic basis, revenue during the first nine months of the year increased substantially in all regions, with EMEA 33.1%, Americas up 76.2% and APAC up 74.9%.
For the full year, the company said that it expects revenues to grow by more than 35%, with an EBIT margin of around 50%, despite significant investments in staff increases.
The company says it is entering 2011 with mixed expectations. Company CFO Jacques Galloy said that 2011 “will be an odd year, without any major event (which represented more than EUR 10 million of rentals in 2010), benefiting from the industry recovery, while our company invests in innovation and expansion. Above all, 2011 has the Olympic year 2012 at the horizon.”
.
You can read the full EVS Q3 earnings press release here.
The full EVS conference call presentation to equity analysts is here.
Information about the previous quarter is here.
.
[...] This post was mentioned on Twitter by Joe_Zaller, greyhawk. greyhawk said: EVS Q3 Revenue up 69.4%, Delivers 55% Operating Margins http://goo.gl/fb/Yb6wE [...]