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Evertz Technologies reports Record Quarterly Revenue of $135.3 million in the Third Quarter ended January 31, 2024
Burlington, Ontario--(Newsfile Corp. - March 14, 2024) - Evertz Technologies Limited (TSX: ET), t...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies reports Record Quarterly Revenue of $135.3 million in the Third Quarter ended January 31, 2024Burlington, Ontario--(Newsfile Corp. - March 14, 2024) - 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, 2024.Third Quarter 2024 HighlightsRecord Quarterly revenue of $135.3 million, an increase of 22% or $24.4 million from the prior yearInternational quarterly revenue of $54.8 million, an increase of 38% from the prior yearUS/Canada quarterly revenue of $80.5 million, an increase of 13% from the prior yearEarnings from operations before foreign exchange of $29.2 million for the quarter, an increase of 48% from the prior yearNet earnings of $19.0 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)  Q3 ' 24  Q3 ' 23 Revenue $135,278 $110,873 Gross margin 79,733 65,611 Earnings from operations 26,398 17,465 Earnings from operations before FX 29,238 19,790 Net earnings 19,024 12,097 Fully-diluted earnings per share $0.24 $0.16 Fully-diluted shares 76,878,395 76,305,533  Selected Financial InformationConsolidated Balance Sheet Data (in thousands of dollars)  Q3 ' 24  YE '23 Cash and cash equivalents 69,712 $12,468 Working capital 199,581 171,428 Total assets 472,769 436,652 Shareholders' equity 260,158 243,099  RevenueFor the quarter ended January 31, 2024, revenues were $135.3 million compared to revenues of $110.9 million for the quarter ended January 31, 2023. For the quarter, revenues in the United States/Canada region were $80.5 million compared to $71.2 million in the same quarter last year. The International region had revenues of $54.8 million compared to $39.6 million in the same quarter last year.Gross MarginFor the quarter ended January 31, 2024, gross margin was $79.7 million as compared to $65.6 million in the same quarter last year. Gross margin percentage was approximately 58.9% as compared to 59.2% in the quarter ended January 31, 2023.EarningsFor the quarter ended January 31, 2024, net earnings were $19.0 million as compared to $12.1 million in the corresponding period last year.For the qu...