Tech Vendor Earnings Reports: EVS, Haivision, Level 3, NVIDIA, Vizrt

Vizrt
Vizrt reported that its revenue for the fourth quarter of 2011 was $35.5m, an increase of 5% versus the same period a year ago, and up 12% versus the previous quarter. Full year revenue was $125m, an increase of 19% versus 2010, and record result for the company.

Gross margins for the fourth quarter of 2011 were 69%, up from 63% last year and up from 66% last quarter. EBITDA was $8.9m for the quarter, an increase of 44% versus last year and an increase of 58% versus last quarter.  The EBITDA margin for the quarter was 27%. Net profit for the quarter was $6m versus a loss of $193,000 a year ago, and up by 81% versus $3.32m last quarter.

Gross margins for the year were 66%, up from 62% in 2010.  EBIT for 2011 was $18.5m, or 15%, an improvement from a 9% EBIT margin last year.

Level 3
Level 3 reported revenue for the fourth quarter 2011 was $934 million (excluding the effects of intercompany eliminations of revenue from Level 3’s Global Crossing acquisition in October 2011) versus $927 million in the third quarter 2011 and $904 million for the fourth quarter 2010. Revenue for the full year 2011 was $3.69 billion, compared to $3.59 billion for the full year 2010.

For the fourth quarter 2011, gross margin was 63.4%, (excluding Global Crossing considerations), compared to 63.1% for the third quarter 2011 and 61.1% for the fourth quarter 2010.  Gross margin increased to 62.4% t for the full year 2011, compared to 60.1% for the full year 2010.

Global Crossing’s consolidated revenue was $670 million in the fourth quarter of 2011, versus $697 million in the third quarter 2011 and $683 million for the fourth quarter 2010.  Consolidated revenue for the full year 2011 was $2.72 billion, compared to $2.61 billion in 2010.

Beginning with the first quarter 2012 results, the company will no longer provide separate results for Level 3 and Global Crossing.

EVS
EVS reported that its revenue for the full year 2011 was €106.9m, down 3.8% versus last year. Despite the year-over-year revenue drop, the company said that its order book had reached a record €46.1m by the end of 2011, driven in part by a new investment cycle from OB truck operators and in anticipation of many large sporting events in 2012, including the Olympics

EVS typically performs better in “even” years when major sporting events drive a sharp increase in the company’s rental business.

For the fourth quarter of 2011 EVS revenue was €31m, an increase of 15.3% versus the same period a year ago, and up 22.7% excluding impact of exchange rates and large rental contracts, which are a major driver of the company’s business. Gross margins for the fourth quarter were 78%, up from 76.6%, last quarter, but lower than the 81% reported last quarter.  The company attributed the higher year-over-year gross margin performance to higher sales.

Full Year gross margins were 78.4%, down slightly from 2010 due to lower sales levels absorbing fixed assembling and support costs.

Haivsion
Haivision Network Video reported that its revenue grew 47 percent increase over fiscal year 2010, contributing to a 50%CAGR over the past six years. Haivision has also increased its profitability steadily, ending 2011 with its 16th consecutive quarter of positive EBITDA results.

In just over two years, Haivision has acquired four software companies – Video Furnace, CoolSign, KulaByte, and MontiVision Imaging Technologies. The acquisitions have significantly contributed to Haivision’s end-to-end proposition within the IP media delivery market.

Haivision also released three new product technologies in 2011 – the Viper multichannel HD video recording and streaming appliance, the Kraken real-time transcoding appliance, and the HyperStream Internet media cloud transcoding service based on KulaByte software transcoding.

NVIDIA
NVIDIA reported revenue for fiscal 2012 (ended Jan. 29) of $4.00 billion, up 12.8% from $3.54 billion in fiscal 2011. GAAP earnings per share for the year were $0.94 per diluted share, an increase of 118.6% over $0.43 in fiscal 2011. Non-GAAP earnings per share for fiscal 2012 were $1.19, up 46.9% over $0.81 in fiscal 2011. Revenue for the fourth quarter of fiscal 2012 was $953.2 million, down 10.6% from the prior quarter, and up 7.5% from $886.4 million in the same period a year earlier.