UPDATE 1-Evertz Technologies posts flat Q4 profit

* Q4 EPS $0.28 vs est $0.29

* Q4 rev $77.30 mln vs est $75.07 mln

* Gross margin improves

June 17 (Reuters) - Canadian broadcast equipment company Evertz Technologies Ltd (ET.TO) posted a nearly flat fourth-quarter profit as a rise in revenue was offset by a spike in operating expenses.

The company posted a net income of $20.8 million, or 28 cents a share, compared with net income of $21.1 million, or 28 cents a share, a year ago.

Revenue rose 23 percent to $77.3 million.

Analysts on average had expected earnings of 29 cents a share, on revenue of $75.07 million, according to Reuters Estimates.

Purchase order backlog at the end of May was in excess of $33 million and shipments in May exceeded $21 million, the company said in a statement.

Gross margin improved to 62 percent from 61 percent a year ago, it said.