Click here to close now.




















Welcome!

Mobile IoT Authors: Elizabeth White, Agathe Caffier, Liz McMillan, Pat Romanski, Kaazing Blog

News Feed Item

Evertz Technologies Second Quarter Fiscal 2013 Revenue and Earnings Up 18%

BURLINGTON, ONTARIO -- (Marketwire) -- 12/04/12 --

Attention Business/Financial Editors:

Evertz Technologies Limited (TSX:ET), a global leader in video infrastructure solutions for production, playout and delivery systems for television broadcasters, telecom and multi-system operators, today reported that revenue and earnings per share rose 18% in its results for the second quarter of its fiscal 2013 year.

Quarterly Highlights


--  Revenue of $83.2 million, an increase of 18% year over year for the
    quarter 
--  US/Canada region revenue was up $10.8 million or 30% compared to a year
    ago 
--  Revenue in the International region rose 5% compared to a year ago, to
    $36.4 million 
--  Gross margin rose to 59% 
--  Fully diluted earnings per share increased 18% to $0.26 for the quarter
    as compared to $0.22 a year ago 
--  Cash and instruments held for trading increased to over $215 million 

                                                                            
Selected Financial Information                                              
Consolidated Statement of Earnings Data                                     
(in thousands of dollars, except per share amounts)                         
                                                       Q2 ' 13       Q2 ' 12
                                                    ----------    ----------
Revenue                                              $  83,158     $  70,487
Gross margin                                            48,860        40,376
Earnings from operations                                25,894        21,983
Net earnings                                            19,092        16,097
Fully-diluted earnings per share                     $    0.26     $    0.22
                                                                            
Selected Financial Information                                              
Consolidated Balance Sheet Data                                             
(in thousands of dollars)                                                   
                                                       Q2 ' 13       YE ' 12
                                                    ----------    ----------
Cash and instruments held for trading                $ 215,342     $ 185,669
Working capital                                        349,281       325,677
Total assets                                           446,714       431,864
Shareholders' equity                                   402,075       378,417

Revenue

For the quarter ended October 31, 2012, revenues were $83.2 million, an increase of $12.7 million or 18% as compared to revenues of $70.5 million for the quarter ended October 31, 2011. For the quarter, revenues in the United States/Canada region were $46.7 million, an increase of $10.8 million or 30% when compared to the same quarter last year. The International region had revenues of $36.4 million, an increase of 5% when compared to the same quarter last year.

Gross Margin

For the quarter ended October 31, 2012 gross margin was $48.9 million compared to $40.4 million in the same quarter last year. Gross margin percentage was approximately 59% compared to 57% for the quarter ended October 31, 2011.

Earnings

For the quarter ended October 31, 2012 net earnings were $19.1 million as compared to $16.1 million in the corresponding period last year.

For the quarter ended October 31, 2012, earnings per share on a fully-diluted basis were $0.26 as compared to $0.22 in the same period in 2011.

Operating Expenses

For the quarter ended October 31, 2012 selling and administrative expenses were $13.1 million compared to $11.7 million for the quarter ended October 31, 2011. Selling and administrative expenses represented approximately 16% of revenue in the quarter compared to 17% for the same period last year.

For the quarter ended October 31, 2012 gross research and development expenses increased by $2.6 million or 26% as compared to the corresponding period in 2011. Gross research and development expenses represented approximately 15% of revenue for the quarter ended October 31, 2012.

Liquidity and Capital Resources

The Company's working capital as at October 31, 2012 was $349.3 million as compared to $325.7 million on April 30, 2012.

Cash and instruments held for trading were $215.3 million as at October 31, 2012 as compared to $185.7 million on April 30, 2012.

Cash provided by operations was $46.4 million for the quarter ended October 31, 2012 as compared to $22.3 million for the quarter ended October 31, 2011. Before taking into account the changes in non-cash working capital, the Company generated $22.5 million from operations for the quarter ended October 31, 2012 compared to $19.0 million for the same period last year.

The Company spent $1.4 million on the purchase of capital assets for the quarter ended October 31, 2012 and $3.4 million for the quarter ended October 31, 2011.

For the quarter ended October 31, 2012, the Company used cash from financing activities of $11.0 million which was principally a result of the payment of dividends of $10.6 million.

Shipments and Backlog

Purchase order backlog at the end of November 2012 was in excess of $41 million and shipments during the month of November 2012 exceeded $21 million.

Dividend Declared

Evertz Board of Directors declared a dividend on December 4, 2012 of $0.14 per share.

The dividend is payable to shareholders of record on December 14, 2012 and will be paid on or about December 21, 2012.


----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                   Three month period      Six month period 
                                                ended                 ended 
                                          October 31,           October 31, 
----------------------------------------------------------------------------
                                     2012        2011       2012       2011 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Revenue                         $  83,158   $  70,487  $ 179,119  $ 145,615 
Cost of goods sold                 34,298      30,111     74,604     62,392 
----------------------------------------------------------------------------
Gross margin                       48,860      40,376    104,515     83,223 
----------------------------------------------------------------------------
                                                                            
Expenses                                                                    
  Selling and administrative       13,090      11,739     25,459     22,121 
  General                           1,449       1,789      2,897      3,098 
  Research and development         12,612      10,041     24,404     20,360 
  Investment tax credits           (2,864)     (2,454)    (6,050)    (4,736)
  Foreign exchange gain            (1,321)     (2,722)    (1,323)    (3,065)
----------------------------------------------------------------------------
                                   22,966      18,393     45,387     37,778 
----------------------------------------------------------------------------
Earnings before undernoted         25,894      21,983     59,128     45,445 
                                                                            
Finance income                        428         453        877        876 
Finance costs                         (78)        (46)      (166)       (97)
Other income and expenses            (119)       (242)        (4)      (225)
----------------------------------------------------------------------------
Earnings before income taxes       26,125      22,148     59,835     45,999 
----------------------------------------------------------------------------
                                                                            
Provision for income taxes                                                  
  Current                           6,324       6,126     15,312     13,481 
  Deferred                            709         (75)       672     (1,203)
----------------------------------------------------------------------------
                                    7,033       6,051     15,984     12,278 
----------------------------------------------------------------------------
                                                                            
Net earnings for the period     $  19,092   $  16,097  $  43,851  $  33,721 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net earnings attributable to                                                
 non-controlling interest             185         101        355        198 
----------------------------------------------------------------------------
Net earnings attributable to                                                
 shareholders                      18,907      15,996     43,496     33,523 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Net earnings for the period     $  19,092   $  16,097  $  43,851  $  33,721 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Earnings per share                                                          
Basic                           $    0.26   $    0.22  $    0.59  $    0.45 
Diluted                         $    0.26   $    0.22  $    0.59  $    0.45 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Consolidated Balance Sheet Data                       As at            As at
                                           October 31, 2012   April 30, 2012
----------------------------------------------------------------------------
Cash and instruments held for trading          $    215,342     $    185,669
Inventory                                      $    107,927     $    109,211
Working capital                                $    349,281     $    325,677
Total assets                                   $    446,714     $    431,864
Shareholders' equity                           $    402,075     $    378,417
                                                                            
Number of common shares outstanding:                                        
  Basic                                          73,172,986       73,225,786
  Fully -diluted                                 77,924,586       77,904,086
                                                                            
Weighted average number of shares                                           
 outstanding:                                                               
  Basic                                          73,166,072       73,612,759
  Fully -diluted                                 73,382,083       73,812,767
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Forward-Looking Statements

The report contains forward-looking statements reflecting Evertz's objectives, estimates and expectations. Such forward-looking statements use words such as "may", "will", "expect", "believe", "anticipate", "plan", "intend", "project", "continue" and other similar terminology of a forward-looking nature or negatives of those terms.

Although management of the Company believes that the expectations reflected in such forward-looking statements are reasonable, all forward-looking statements address matters that involve known and unknown risks, uncertainties and other factors. Accordingly, there are or will be a number of significant factors which could cause the Company's actual results, performance or achievements, or industry results to be materially different from any future results performance or achievements expressed or implied by such forward-looking statements.

Conference Call

The Company will hold a conference call with financial analysts to discuss the results on December 4, 2012 at 5:00 p.m. (EDT). Media and other interested parties are invited to join the conference call in listen-only mode. The conference call may be accessed by dialing 1-416-849-6166 or toll-free (North America) 1-866-250-6267.

For those unable to listen to the live call, a rebroadcast will also be available until January 4, 2013. The rebroadcast can be accessed at 1-416-915-1035 or toll-free 1-866-245-6755. The pass code for the rebroadcast is 235180.

About Evertz

Evertz Technologies Limited (TSX:ET) designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The Company's solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital and high definition television ("HDTV") broadcast environments and by telecommunications and new-media companies. The Company's products allow its customers to generate additional revenue while reducing costs through the more efficient signal routing, distribution, monitoring and management of content as well as the automation of previously manual processes.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the data to create additional revenue streams, such as improved warranties or premium features. Or slash...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small, but are focused on specific tasks. The ability for developers to deploy multiple containers – thous...