Business
Evertz Technologies Reports Second Quarter Results for the Quarter Ended October 31, 2021
Burlington, Ontario--(Newsfile Corp. - December 8, 2021) - Evertz Technologies Limited (TSX: E...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports Second Quarter Results for the Quarter Ended October 31, 2021Burlington, Ontario--(Newsfile Corp. - December 8, 2021) - 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, 2021.Second Quarter 2022 HighlightsQuarterly revenue of $107.2 million, an increase of $6.7 million from the prior yearUS/Canada quarterly revenue up 17% from the prior yearNet earnings of $17.2 million for the quarterFully diluted earnings per share of $0.22 for the quarterSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data)          Q2 ' 22       Q2 ' 21  Revenue     $ 107,199   $ 100,482 Gross margin       61,077     59,659 Earnings from operations       23,700     28,672 Net earnings       17,184     21,188 Fully-diluted earnings per share     $ 0.22   $ 0.28 Fully-diluted shares       76,561,480     76,488,271   Selected Financial InformationConsolidated Balance Sheet Data(in thousands of dollars)          Q2 ' 22       YE '21  Cash and cash equivalents     $ 37,666   $ 108,771 Working capital       144,918     214,515 Total assets       405,587     451,793 Shareholders' equity       221,164     292,734 RevenueFor the quarter ended October 31, 2021, revenues were $107.2 million an increase of $6.7 million compared to revenues of $100.5 million for the quarter ended October 31, 2020. For the quarter, revenues in the United States/Canada region were $78.2 million an increase of 17% compared to $66.9 million in the same quarter last year. The International region had revenues of $29.0 million compared to $33.6 million in the same quarter last year.Gross MarginFor the quarter ended October 31, 2021, gross margin was $61.1 million as compared to $59.7 million in the same quarter last year. Gross margin percentage was approximately 57.0% as compared to 59.4% in the quarter ended October 31, 2020.EarningsFor...