June 16, 2010 / 8:56 PM / 7 years ago

UPDATE 1-Evertz Technologies Q4 profit tops Street

* Q4 EPS C$0.21 vs est. C$0.20

* Sales dip 3 pct

June 16 (Reuters) - Canadian broadcast equipment company Evertz Technologies Ltd ET.TO posted a quarterly profit that beat market estimates, partly helped by lower selling and administrative expenses.

For the fourth quarter ended April 30, the company’s net income was C$15.3 million, or 21 Canadian cents a share, compared with C$20.8 million, or 28 Canadian cents a share, a year earlier.

Sales fell about 3 percent to C$75.3 million.

Analysts on average were expecting earnings of 20 Canadian cents a share, before special items, on revenue of C$65.6 million, according to Thomson Reuters I/B/E/S.

Gross margin for the quarter stood at C$43.4 million, down from C$47.7 million, a year ago. The company’s selling and administrative expenses fell by C$1.6 million compared to the prior year.

The company said its purchase order backlog at May-end was in excess of C$30 million, while shipments during May exceeded C$25 million.

Shares of the Burlington, Ontario-based company closed at C$13.35 Wednesday on the Toronto Stock Exchange. (Reporting by Koustav Samanta in Bangalore; Editing by Prem Udayabhanu)

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