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Evertz Technologies fiscal Q3 profit climbs 18.2% YOY

Evertz Technologies Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 amounted to 28 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS rose 18.8% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$20.6 million, an increase of 18.2% from C$17.4 million in the year-earlier period.

The normalized profit margin climbed to 20.7% from 19.2% in the year-earlier period.

Total revenue grew 10.0% on an annual basis to C$99.8 million from C$90.7 million, and total operating expenses rose 6.5% from the prior-year period to C$74.1 million from C$69.6 million.

Reported net income grew 13.7% on an annual basis to C$23.9 million, or 32 cents per share, from C$21.0 million, or 28 cents per share.