Q1 2025 Evertz Technologies Ltd Earnings Call Transcript
Key Points
- Evertz Technologies Ltd (EVTZF) reported a strong gross margin of 59.4%, up from 57.3% in the prior year.
- The company saw a significant increase in software and services revenue, which rose by 26% to $55.9 million.
- Evertz Technologies Ltd (EVTZF) has a robust purchase order backlog and shipments totaling over $335 million.
- The company closed the quarter with a strengthened cash position of $91 million, up from $48.9 million a year ago.
- Evertz Technologies Ltd (EVTZF) declared a quarterly dividend of $0.195 per share, reflecting confidence in its financial health.
- Total sales for the first quarter decreased to $111.6 million from $125.8 million in the same quarter of the previous year.
- Hardware revenue saw a significant decline from $81.4 million to $55.7 million quarter-over-quarter.
- There was a decrease in working capital, which stood at $197.7 million, down $3.7 million from the previous year.
- Selling and administrative expenses increased to $17.6 million, representing 15.8% of revenues compared to 13% last year.
- The company experienced a foreign exchange loss of $2.1 million in the first quarter of the previous year.
Good afternoon, ladies and gentlemen, and welcome to Evertz first quarter investor call. (Operator Instructions) I would now like to turn the conference over to Brian Campbell, Executive Vice President of Business Development. Please go ahead.
Thank you, Konstantin. Good afternoon, everyone, and welcome to Evertz Technologies' conference call for our fiscal 2025 first quarter ended July 31, 2024, with Doug Moore, Evertz' Chief Financial Officer; and myself, Brian Campbell. Please note that our financial press release and MD&A will be available on SEDAR and on the company's investor website. Doug and I will comment on the financial results and then open the call to your questions.
Turning now to Evertz' results. I'll begin by providing a few highlights, and then Doug will provide additional details. First off, sales for the first quarter totaled $111.6 million, including $55.9 million in software and services revenue. Our sales base is well diversified, with
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