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Evertz Q2 revenue rises 18%

Evertz earned $19.09-million, or $.26 cents compared to $.22 last year. Management said it saw the biggest gains in the US/Canada region, where revenue was up 30% over last year.
Evertz earned $19.09-million, or $.26 cents compared to $.22 last year. Management said it saw the biggest gains in the US/Canada region, where revenue was up 30% over last year.
Today, after market close, Evertz Technologies (TSX:ET) reported its Q2, 2013 financials. The company posted revenue of $83.2 million, which was an increase of 18% year over the same period last year.

Evertz earned $19.09-million, or $.26 cents a share compared to $.22 last year. Management said it saw the biggest gains in the US/Canada region, where revenue was up 30% over last year.

The Burlington-based broadcast infrastructure company also announced that it will continue to pay a dividend of $0.14 per share. The board had raised it from $.12 a share in March.

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

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Dieter Evertz founded his eponymous company in 1966, before selling to a group that included current bosses Romolo Margarelli and Doug DeBruin, who came over from Leitch Technologies. The Company went public in 2006, raising $67 million in a TSX IPO.

Evertz remains as one of the last public companies standing from a once robust Canadian broadcasting technology sector. The company’s fiscal 2012 revenue of $293.4-million came from a product line that includes timecode equipment, closed captioning technology and multiviewers. Evertz’s products have been used in the production of Star Wars III, Rocky 6, CSI, Oprah and the 2008 Olympics.

Shares of Evertz closed today down .2% to $16.22.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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