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London Olympics casts shadow over EVS second-quarter profit
August 29, 2013 / 5:12 AM / 4 years ago

London Olympics casts shadow over EVS second-quarter profit

BRUSSELS (Reuters) - TV broadcasting software maker EVS saw its second-quarter operating profit fall by well over half as it struggles in a lean year with no major sporting events to drive demand for instant replays and cutting edge editing technology.

It said its operating profit fell 58.4 percent to 9.7 million euros ($12.94 million), compared with 10.6 million euros expected in a Reuters poll of three banks and brokerages.

That stacks up badly against the second quarter of last year, as TV broadcasters geared up for a summer of sport including the Euro 2012 football tournament and the London Olympic Games. EVS said that, after 10 million euros from rental agreements related to last year’s big sporting events were discounted, sales for 2013 should be in line with 2012.

($1 = 0.7496 euros)

Reporting By Ben Deighton

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