BURLINGTON, ON – Broadcast gear manufacturer Evertz Technologies reported an increase of 7.8% in revenues for fiscal year 2013, despite a 14.2% decrease in revenues in the fourth quarter.
Sales for the year ended April 30, 2013 were $316.3 million, an increase of $22.9 million or 7.8% compared to $293.4 million for the prior year. The United States/Canada regions also saw an increase of $23.3 million or 15.6% when compared to the prior year, and the international region was consistent at $143.1 million compared to $143.5 million in the prior year.
Fourth-quarter sales of consolidated revenue, however, were at $65.4 million, compared to $76.3 million for the same quarter a year earlier. Revenue in the U.S./Canada region for the same period was at $33.3 million, a decrease of $3.3 million or 9.1% when compared to the same quarter last year. Evertz’s international region revenues also saw a decrease to $32.1 million, compared to $39.6 million in the same quarter last year.
As a result, net profit for fourth quarter of 2013 was down to $8.1 million from $13.5 million in fiscal 2012, with earnings per share at $0.11 compared with $0.18 in the same period in 2012.
The company attributes part of the decrease in fourth quarter profit to increased administrative expenses and research and development costs, which were at $14 million and $15.3 million, respectively.
Despite a weaker fourth quarter, net profit for fiscal 2013 increased to $65.2 million from $60 million from the same period a year earlier.
