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Evertz Technologies Reports Record Quarterly Revenue of $137 Million in The Third Quarter Ended January 31, 2025
Attention Business/Financial Editors: Burlington, Ontario--(Newsfile Corp. - March 5, 2025) - Ev...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports Record Quarterly Revenue of $137 Million in The Third Quarter Ended January 31, 2025Attention Business/Financial Editors:Burlington, Ontario--(Newsfile Corp. - March 5, 2025) - 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, 2025.Third Quarter 2025 HighlightsRecord Quarterly revenue of $136.9 million, an increase of 9% or $11.7 million sequentiallyReoccurring software, services and other software revenue of $55.7 million in the quarter, up 6% from the prior yearEarnings from operations of $28.1 million for the quarter, an increase of 8% from the prior yearNet earnings of $21.1 million for the quarterFully diluted earnings per share of $0.27 for the quarterSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data) Q3 ' 25   Q3 ' 24 Revenue $ 136,916  $135,278Gross margin 79,098  79,733Earnings from operations 28,108  26,398Net earnings 21,076  19,024Fully-diluted earnings per share$ 0.27  $0.24Fully-diluted shares76,860,180  76,878,395 Selected Financial InformationConsolidated Balance Sheet Data (in thousands of dollars) Q3 ' 25   YE' 24 Cash and cash equivalents$ 96,280  $ 86,325 Working capital 207,943   201,437 Total assets 472,210   484,722 Shareholders' equity 269,606  263,267 RevenueFor the quarter ended January 31, 2025, revenues were $136.9 million compared to revenues of $135.3 million for the quarter ended January 31, 2024. For the quarter, revenues in the United States/Canada region were $99.1 million compared to $80.5 million in the same quarter last year. The International region had revenues of $37.8 million compared to $54.8 million in the same quarter last year.Gross MarginFor the quarter ended January 31, 2025, gross margin was $79.1 million as compared to $79.7 million in the same quarter last year. Gross margin percentage was approximately 57.8% as compared to 58.9% in the quarter ended January 31, 2024.EarningsFor the quarter ended January 31, 2025, net earnings were $21.1 million as compared to $19.0 million in the corresponding period last year.For the quarter ended January 31, 2025, ea...