Strong Financial Performance
Sales for the first quarter totaled $112.1 million, with a notable increase in hardware revenue from $55.7 million to $60.5 million. Gross margin was 61.4%, up from 59.4% in the prior year, driven by a high proportion of higher-margin software service revenue.
Record Net Earnings Growth
Net earnings were $11.9 million, up 22% from the prior year, with fully diluted earnings per share at $0.15 for the quarter.
Robust Purchase Order Backlog
Evertz' purchase order backlog was more than $252 million at the end of August, with shipments during the month of August totaling $41 million.
Significant Cash Position
Cash as of July 31 was $124.3 million, increasing compared to $111.7 million as of April 30.
Regular Quarterly Dividend Declared
Evertz' Board of Directors declared a regular quarterly dividend of $0.20 per share payable on or about September 25.