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Evertz Technologies Reports Record Quarterly Revenue of $131 Million in the Second Quarter Ended October 31, 2023
Burlington, Ontario--(Newsfile Corp. - December 6, 2023) - Evertz Technologies Limited (TSX: ET),...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports Record Quarterly Revenue of $131 Million in the Second Quarter Ended October 31, 2023Burlington, Ontario--(Newsfile Corp. - December 6, 2023) - Evertz Technologies Limited (TSX: ET), the leader in Software Defined Video Network (\"SDVN\") technology, today reported its results for the second quarter ended October 31, 2023.Second Quarter 2024 HighlightsRecord quarterly revenue of $130.7 million, an increase of 15% or $17.5 million from the prior year quarterInternational quarterly revenue of $56.7 million up $31.8 million or 128% from the prior year quarterEarnings from operations of $32.2 million for the quarter, an increase of 13% from the prior year quarterNet earnings of $22.3 million for the quarter, and increase of 11% from the prior year quarterFully diluted earnings per share of $0.29 for the quarterRegular quarterly dividend increased to $0.195 per shareSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data)              Q2 ' 24   Q2 ' 23  Revenue           $130,749 $113,248 Gross margin           78,019 67,477 Earnings from operations           32,150 28,392 Net earnings           22,251 19,977 Fully-diluted earnings per share           $0.29 $0.26 Fully-diluted shares           76,650,240 76,324,261  Selected Financial InformationConsolidated Balance Sheet Data(in thousands of dollars)            Q2 ' 24   YE '23  Cash and cash equivalents         $55,865 $12,468 Working capital         191,262 171,428 Total assets         446,661 436,652 Shareholders' equity         254,682 243,098  RevenueFor the quarter ended October 31, 2023, revenues were $130.7 million an increase of $17.5 million compared to revenues of $113.2 million for the quarter ended October 31, 2022. For the quarter, revenues in the United States/Canada region were $74.0 million a decrease of 16% compared to $88.3 million in the same quarter last year. The International region had revenues of $56.7 million, an increase ...