Evertz announced that its revenue for the first quarter of its 2012 fiscal year was C$75.1m, an increase of 2% versus the same period a year ago, and an increase of 10% versus the previous quarter.
Revenue in the US/Canada region was up 6% versus last year, while international revenue declined by 4% versus last year.
The results for the quarter were well above the expectations of equity analysts, who on average were looking for revenue of C$64.2m.
Net income in the quarter was C$17.6m, down 14% versus last year, but up 42% versus last quarter. Gross margins in the quarter were 57%, down from 58% last year and flat versus the previous quarter.
R&D expenses in the quarter increased by $2.3m or 29% compared to the same period last year. R&D expenses represented approximately 14% of sales for the quarter compared to 11% for the same period last year. On its conference call with equity analysts Evertz management said they will continue to invest in R&D, which the company sees as a strategic differentiator in the market.
SG&A expenses for the quarter were C$10.4m, an increase of 27% versus last year, but 5% lower than the previous quarter.
The company’s purchase order backlog at the end of August 2011 was in excess of C$21 million and shipments during the month of August 2011 exceeded C$29 million.
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Related Content:
Press Release: Evertz Technologies Reports Results for the First Quarter Ended July 31, 2011
Previous Quarter: Evertz Misses Q4 Revenue and Profit Expectations as International Sales Fall by 31%
Previous Year: Evertz Q1 2011 Revenue up 2%
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