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Evertz Technologies Reports First Quarter Results for the Quarter Ended July 31, 2022
Burlington, Ontario--(Newsfile Corp. - September 13, 2022) - Evertz Technologies Limited (TSX:...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports First Quarter Results for the Quarter Ended July 31, 2022Burlington, Ontario--(Newsfile Corp. - September 13, 2022) - Evertz Technologies Limited (TSX: ET), the leader in Software Defined Video Network (\"SDVN\") technology, today reported its results for the first quarter ended July 31, 2022.First Quarter 2023 HighlightsRevenue of $101.5 million, an increase of 5% from the prior yearU.S./Canadian revenue up 21% from the prior yearEarnings from operations of $19.3 million Net earnings of $13.9 million for the quarterFully diluted earnings per share of $0.18 for the quarterSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1808/137016_table1.jpgSelected Financial InformationConsolidated Balance Sheet Data(in thousands of dollars)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1808/137016_table2.jpgRevenueFor the quarter ended July 31, 2022, revenues were $101.5 million an increase of 5% compared to revenues of $97.2 million for the quarter ended July 31, 2021. For the quarter, revenues in the United States/Canada region were $78.2 million, an increase of $13.8 million, compared to $64.4 million in the same quarter last year. The International region had revenues of $23.3 million, compared to $32.8 million in the same quarter last year.Gross MarginFor the quarter ended July 31, 2022, gross margin was $58.5 million as compared to $56.7 million in the same quarter last year. Gross margin percentage was approximately 57.6% as compared to 58.3% in the quarter ended July 31, 2021.EarningsFor the quarter ended July 31, 2022, net earnings were $13.9 million as compared to $14.7 million in the corresponding period last year.For the quarter ended July 31, 2022, earnings per share on a fully-diluted basis were $0.18 as compared to $0.19 in the corresponding period last year.Operating ExpensesFor the quarter ended July 31, 2022, selling and administrative expenses were $12.9 million as compared to $14.0 million for the quarter ended July 31, 2021.For the quarter ended July 31, 2022, gross research and development expenses were $28.3 million as compared to $24.7 million for the quarter ende...