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Evertz Technologies Reports Third Quarter Results for the Quarter Ended January 31, 2023.
Burlington, Ontario--(Newsfile Corp. - March 2, 2023) - Evertz Technologies Limited (TSX: ET), th...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Reports Third Quarter Results for the Quarter Ended January 31, 2023.Burlington, Ontario--(Newsfile Corp. - March 2, 2023) - 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, 2023.Third Quarter 2023 HighlightsQuarterly revenue of $110.9 millionUS/Canada quarterly revenue of $71.2 millionEarnings from operations before foreign exchange of $19.8 million for the quarterNet earnings of $12.1 million for the quarterFully diluted earnings per share of $0.16 for the quarterSelected Financial InformationConsolidated Statement of Earnings Data(in thousands of dollars, except earnings per share and share data)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1808/156989_evertztable1.jpgSelected Financial InformationConsolidated Balance Sheet Data(in thousands of dollars)To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1808/156989_evertztable2.jpgRevenueFor the quarter ended January 31, 2023, revenues were $110.9 million compared to revenues of $120.6 million for the quarter ended January 31, 2022. For the quarter, revenues in the United States/Canada region were $71.2 million compared to $78.9 million in the same quarter last year. The International region had revenues of $39.6 million compared to $41.7 million in the same quarter last year.Gross MarginFor the quarter ended January 31, 2023, gross margin was $65.6 million as compared to $69.2 million in the same quarter last year. Gross margin percentage was approximately 59.25% as compared to 57.4% in the quarter ended January 31, 2022.EarningsFor the quarter ended January 31, 2023, net earnings were $12.1 million as compared to $21.6 million in the corresponding period last year.For the quarter ended January 31, 2023, earnings per share on a fully-diluted basis were $0.16 as compared to $0.28 in the corresponding period last year.Operating ExpensesFor the quarter ended January 31, 2023, selling and administrative expenses were $16.3 million as compared to $16.0 million for the quarter ended January 31, 2022.For the quarter ended January 31, 2023, gross research and development expenses were $30.2 million as compared to $26.0 million for the quarter ended...