BURLINGTON, ON – Evertz Technologies saw third quarter profits more than halved and revenues fall by $8.7 million from the same period of fiscal 2016.
For the quarter ended January 31, 2017, the software defined video network technology company recorded revenues of $91.1 million, down from $99.8 million year-over-year. While revenues in the United States/Canada region grew 6% from $53.6 million to $56.8 million, the International region saw revenues decline to $34.3 million from $46.2 million last year.
Quarterly net earnings of $9.7 million plunged from $24.4 million year-over-year. Gross margin was $51.1 million compared to to $57.0 million last year, and gross margin percentage was approximately 56.1% versus 57.1% in the quarter ended January 31, 2016.
At the end of February 2017, purchase order backlog was in excess of $103 million and shipments during the month were $21 million.
The Evertz Board of Directors declared a regular quarterly dividend on March 1, 2017 of $0.18 per share.
