Business
Evertz Technologies Reports $121 Million Revenue for the Quarter Ended January 31, 2020
Burlington, Ontario--(Newsfile Corp. - March 11, 2020) - Evertz Technologies Limited (TSX: ET)...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports $121 Million Revenue for the Quarter Ended January 31, 2020Burlington, Ontario--(Newsfile Corp. - March 11, 2020) - Evertz Technologies Limited (TSX: ET), the leader in Software Defined Video Network (\"SDVN\") technology, today reported its results for the third quarter ended January 31, 2020.Third Quarter 2020 HighlightsQuarterly revenue of $121.2 millionQuarterly revenue in the International region of $51.7 million, an increase of 31% from the prior yearNet earnings of $19.4 million for the quarterFully diluted earnings per share of $0.25 for the quarterSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data) Q3 ' 20 Q3 ' 19 Revenue $121,226 $120,942 Gross margin 67,849 67,697 Earnings from operations 26,206 28,168 Net earnings 19,401 21,935 Fully-diluted earnings per share $0.25 $0.28 Fully-diluted shares 76,780,796 76,528,720  Selected Financial InformationConsolidated Balance Sheet Data(in thousands of dollars) Q3 ' 20 YE '19 Cash and cash equivalents $51,653 $104,583 Working capital 224,966 282,521 Total assets 437,338 466,597 Shareholders' equity 296,228 353,123  RevenueFor the quarter ended January 31, 2020, revenues were $121.2 million, an increase of $0.3 million compared to revenues of $120.9 million for the quarter ended January 31, 2019. For the quarter, revenues in the United States/Canada region were $69.5 million compared to $81.5 million in the same quarter last year. The International region had revenues of $51.7 million, an increase of $12.2 million compared to $39.5 million in the same quarter last year.Gross MarginFor the quarter ended January 31, 2020, gross margin was $67.8 million as compared to $67.7 million in the same quarter last year. Gross margin percentage was approximately 56.0% as compared to 56.0% in the quarter ended January 31, 2019.EarningsFor the quarter ended January 31, 2020, net earnings were $19.4 million as compared to $21.9 million in the corresponding period last year.For the quarter ended January 31, 2020, earnings per share on a fully-diluted basis were $0.25 as compared to $0.28 in the corresponding period last year.Operating ExpensesFor the quarter ended January 31, 2020, selling and administrative expenses were $17.9 million as compared to $17.6 million for the q...