Business
Evertz Technologies Reports Record Quarterly Revenue of $129 Million, Record Annual Revenue of $455 Million for Periods Ending April 30, 2023 and Record Backlog of $392 Million
Burlington, Ontario--(Newsfile Corp. - June 21, 2023) - Evertz Technologies Limited (TSX: ET), th...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports Record Quarterly Revenue of $129 Million, Record Annual Revenue of $455 Million for Periods Ending April 30, 2023 and Record Backlog of $392 MillionBurlington, Ontario--(Newsfile Corp. - June 21, 2023) - Evertz Technologies Limited (TSX: ET), the leader in Software Defined Video Network (\"SDVN\") technology, today reported its results for the fourth quarter and year ended April 30, 2023.Fiscal 2023 HighlightsRecord Revenue of $454.6 millionRecord Backlog of $392 million as at May 31, 2023Earnings from operations of $95.6 millionNet earnings of $64.6 million for the yearFully diluted earnings per share of $0.84 for the yearFourth Quarter 2023 HighlightsRecord Quarterly revenue of $128.9 million, an increase of 11.1% from the prior year Earnings from operations up 13.4% to $30.5 million from the prior yearReceipt of a purchase order in excess of $152 million from a major US based media company for Evertz Cloud software and services to be provided over a 5 year periodReceipt of a purchase order in excess of $25 million from an International customer for a hybrid solution with next generation Evertz IP core, control, orchestration and visualizationNet earnings of $18.6 million for the quarterFully diluted earnings per share of $0.24 for the quarterSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data)    Q4'23   Q4'22   YE'23   YE'22   Revenue $128,919 $116,089 $454,578 $441,016 Gross margin 76,647 68,340 268,258 255,315 Earnings from operations 30,467 26,863 95,628 101,204 Earnings from operations (before Foreign Exchange) 30,215 25,772 93,662 94,739 Net earnings 18,551 19,213 64,555 72,677 Fully-diluted earnings per share $0.24 $0.25 $0.84 $0.94 Fully-diluted shares 76,164,716 76,226,341 76,200,428 76,570,564  Selected Financial InformationConsolidated Balance Sheet Data (in thousands of dollars)           YE ' 23   YE '22   Cash and cash equivalents $12,468 $33,902 Working capital 171,428 158,947 Total assets 436,652 420,979 Shareholders' equity 243,099 230,938  RevenueFor the quarter ended April 30, 2023, revenues were $128.9 million compared to revenues of $116.1 million for the quarter ended April 30, 2022. Fo...