Attention Business/Financial Editors:

Evertz Technologies Limited (TSX:ET), a global leader in video infrastructure solutions for production, playout and delivery systems for television broadcasters, telecom and multi-system operators, today reported its results for the fourth quarter and year ended April 30, 2013.


Fiscal 2013 Highlights

--  Record annual revenue of $316.3 million, an 8% increase over prior year 
--  Fully diluted earnings per share of $0.88, an increase of 9% as compared
    to $0.81 a year ago 
--  Continued growth in R&D with a gross investment of $52.9 million 
--  Cash and instruments held for trading increased to over $220 million 
--  Quarterly dividend increased to $0.16 per share during the year 
--  Continued expansion through the completion of a selective acquisition
    and the opening of North American and International sales offices 


Selected Financial Information
Consolidated Statement of Earnings Data
(in thousands of dollars, except per share amounts)

                                     Q4'13      YE'13      Q4'12      YE'12
                                 ------------------------------------------
Revenue                          $  65,415  $ 316,305  $  76,340  $ 293,400
Gross Margin                        37,079    181,866     42,783    166,168
Earnings from operations            10,522     86,758     17,474     80,276
Net earnings                         8,133     65,163     13,490     59,956
Fully-diluted earnings per                                                 
 share                           $    0.11  $    0.88  $    0.18  $    0.81
                                                                           
Selected Financial Information                                             
Consolidated Balance Sheet Data                                            
(in thousands of dollars)                                                  
                                                           YE'13      YE'12
                                                       --------------------
Cash and instruments held for                                              
 trading                                               $ 220,668  $ 185,669
Working capital                                          352,164    325,677
Total assets                                             465,307    431,864
Shareholders' equity                                     406,797    378,417

Revenue

For the quarter ended April 30, 2013, revenues were $65.4 million as compared to revenues of $76.3 million for the quarter ended April 30, 2012. For the quarter, revenues in the United States/Canada region were $33.3 million, a decrease of $3.3 million or 9.1% when compared to the same quarter last year. The International region had revenues of $32.1 million, as compared to $39.6 million in the same quarter last year.

For the year ended April 30, 2013, sales were $316.3 million, an increase of $22.9 million or 7.8% as compared to sales of $293.4 million for the prior year. The United States/Canada region increased by $23.3 million or 15.6% when compared to the prior year, and the International region was consistent at $143.1 million compared to $143.5 million in the prior year.

Gross Margin

For the quarter ended April 30, 2013 gross margin was $37.1 million compared to $42.8 million in the same quarter last year. Gross margin percentage was approximately 56.7%, up from 56.0% in the quarter ended April 30, 2012.

For the year ended April 30, 2013, gross margin was $181.9 million as compared to $166.2 million for the year ended April 30, 2012. Gross margin percentage was approximately 57.5% for the year ended April 30, 2013 up when compared to 56.6% for the prior year.

Earnings

For the quarter ended April 30, 2013 net earnings were $8.1 million as compared to $13.5 million in the corresponding period last year.

For the year ended April 30, 2013, net earnings were $65.2 million as compared to $60.0 million in the corresponding period last year.

For the quarter ended April 30, 2013, earnings per share on a fully-diluted basis were $0.11 as compared to $0.18 in the same period in 2012.

For the year ended April 30, 2013, earnings per share on a fully-diluted basis were $0.88 as compared to $0.81 in the same period in 2012.

Operating Expenses

For the quarter ended April 30, 2013 selling and administrative expenses were $14.0 million compared to $12.3 million for the quarter ended April 30, 2012.

For the year ended April 30, 2013, selling and administrative expenses were $53.1 million compared to $47.1 million for the year ended April 30, 2012.

For the quarter ended April 30, 2013 gross research and development expenses increased by $2.6 million or 20.1% as compared to the corresponding period in 2012. Gross research and development expenses represented approximately 23.5% of revenue for the quarter ended April 30, 2013.

For the year ended April 30, 2013, gross research and development expenses increased by 19.6% or $8.7 million as compared to the prior year. Research and development expenses represented approximately 16.7% of sales.

Liquidity and Capital Resources

The Company's working capital as at April 30, 2013 was $352.2 million as compared to $325.7 million on April 30, 2012.

Cash and instruments held for trading were $220.7 million as at April 30, 2013 as compared to $185.7 million on April 30, 2012.

Cash provided by operations was $11.3 million for the quarter ended April 30, 2013 as compared to $8.0 million for the quarter ended April 30, 2012. Before taking into account taxes and the changes in non-cash working capital, the Company generated $11.8 million from operations for the quarter ended April 30, 2013 compared to $18.2 million for the same period last year.

Cash provided by operations was $89.6 million for the 2013 fiscal year as compared to cash provided by operations of $66.6 million for the 2012 fiscal year. Before taking into account taxes and the changes in non-cash working capital, the Company generated $78.6 million from operations for fiscal 2013 as compared to $73.0 million for fiscal 2012.

The Company used $3.9 million in investing activities largely a result of purchases in capital assets of $4.1 million during the quarter ended April 30, 2013, compared to $1.6 million in capital assets purchased for the quarter ended April 30, 2012.

The Company invested $3.8 million net of cash in a technology based company and $11.0 million on the purchase of capital assets for the year ended April 30, 2013, compared to $16.6 million in capital assets purchased for the year ended April 30, 2012.

For the quarter ended April 30, 2013, the Company used cash in financing activities of $11.4 million which was principally a result of the payment of dividends of $11.8 million offset by the issuance of capital stock of $0.6 million.

For the year ended April 30, 2013, the Company used cash in financing activities of $40.1 million as a result of the payment of dividends of $42.9 million, repurchase of capital stock costing $4.2 million offset by the issuance of share capital of $8.0 million.

Shipments and Backlog

Purchase order backlog at the end of May 2013 was in excess of $35 million and shipments during the month of May 2013 were $19 million.

Dividend Declared

Evertz Board of Directors declared a dividend on June 12, 2013 of $0.16 per share.

The dividend is payable to shareholders of record on June 21, 2013 and will be paid on or about June 28, 2013.


Selected Consolidated Financial Information                                
(Unaudited)                                                                
(in thousands of dollars, except earnings per share and share data)        
                                                                           
---------------------------------------------------------------------------
                                  Three month periods  Twelve month periods
                                         ended                 ended       
                                       April 30,             April 30,     
---------------------------------------------------------------------------
                                      2013       2012       2013       2012
---------------------------------------------------------------------------
Revenue                          $  65,415  $  76,340  $ 316,305  $ 293,400
Cost of goods sold                  28,336     33,557    134,439    127,232
---------------------------------------------------------------------------
Gross margin                        37,079     42,783    181,866    166,168
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---------------------------------------------------------------------------
Gross margin %                       56.7%      56.0%      57.5%      56.6%
---------------------------------------------------------------------------
Expenses                                                                   
  Selling and administrative        13,988     12,320     53,106     47,118
  General                            1,076      2,110      5,366      6,788
  Research and development          15,349     12,782     52,851     44,200
  Investment tax credits            (3,609)    (2,562)   (13,178)    (9,872)
  Foreign exchange (gain) loss        (247)       659     (3,037)    (2,342)
---------------------------------------------------------------------------
                                    26,557     25,309     95,108     85,892
---------------------------------------------------------------------------
                                    10,522     17,474     86,758     80,276
                                                                           
Finance income                         807        488      2,383      1,915
Finance costs                         (290)       (55)      (559)      (197)
Other income and expenses               (8)       403        264       (154)
---------------------------------------------------------------------------
Earnings before income taxes        11,031     18,310     88,846     81,840
---------------------------------------------------------------------------
Provision for income taxes                                                 
  Current                            2,536      3,865     21,816     21,669
  Deferred                             362        955      1,867        215
---------------------------------------------------------------------------
                                     2,898      4,820     23,683     21,884
---------------------------------------------------------------------------
Net earnings for the period          8,133     13,490     65,163     59,956
---------------------------------------------------------------------------
                                                                           
Net earnings attributable to                                               
 non-controlling interest               23        110        573        416
---------------------------------------------------------------------------
Net earnings attributable to                                               
 shareholders                        8,110     13,380     64,590     59,540
---------------------------------------------------------------------------
Net earnings for the period          8,133     13,490     65,163     59,956
---------------------------------------------------------------------------
Earnings per share                                                         
Basic                            $    0.11  $    0.19  $    0.88  $    0.81
Diluted                          $    0.11  $    0.18  $    0.88  $    0.81
---------------------------------------------------------------------------
                                                                           

Selected Consolidated Financial Information                                
(Unaudited)                                                                
(in thousands of dollars, except earnings per share and share data)        
                                                                           
---------------------------------------------------------------------------
                                             April 30,  April 30,  April 30,
                                                 2013       2012       2011
---------------------------------------------------------------------------
                                                                           
Assets                                                                     
Current assets                                                             
  Cash and cash equivalents                 $ 208,658  $ 173,665  $ 175,835
  Instruments held for trading                 12,010     12,004     16,190
  Trade and other receivables                  57,087     61,806     52,732
  Inventories                                 111,619    109,211    106,422
  Income tax receivable                         7,233     11,695      2,014
---------------------------------------------------------------------------
                                            $ 396,607  $ 368,381  $ 353,193
                                                                           
---------------------------------------------------------------------------
Assets held for sale                        $   3,781  $   3,781  $       -
---------------------------------------------------------------------------
                                                                           
Property, Plant and Equipment               $  46,637  $  41,190     37,627
Goodwill                                       17,724     17,507     17,467
Intangible assets                                 558      1,005      2,224
---------------------------------------------------------------------------
                                            $ 465,307  $ 431,864  $ 410,511
---------------------------------------------------------------------------
                                                                           
Liabilities                                                                
Current liabilities                                                        
  Trade and other payables                  $  36,237  $  37,034  $  21,814
  Provisions                                    1,104        809      1,235
  Deferred revenue                              6,712      4,460      3,664
  Current portion of long term debt               390        401        451
---------------------------------------------------------------------------
                                            $  44,443  $  42,704  $  27,164
                                                                           
Long term debt                              $   1,539  $   1,875  $  2,493
Deferred taxes                                  9,590      7,331      7,095
---------------------------------------------------------------------------
                                            $  55,572  $  51,910  $  36,752
                                                                           
---------------------------------------------------------------------------
Equity                                                                     
Capital stock                               $  81,453  $  67,458  $  58,882
Share based payment reserve                    10,727     14,320     13,762
                                                                           
Accumulated other comprehensive (loss)                                     
 income                                        (1,063)      (906)       440
Retained earnings                             315,680    297,545    299,125
---------------------------------------------------------------------------
                                            $ 314,617  $ 296,639  $ 299,565
                                                                           
Total equity attributable to shareholders     406,797    378,417    372,209
Non-controlling interest                        2,938      1,537      1,550
---------------------------------------------------------------------------
                                              409,735    379,954    373,759
---------------------------------------------------------------------------
                                            $ 465,307  $ 431,864  $ 410,511
---------------------------------------------------------------------------

Forward-Looking Statements

The report contains forward-looking statements reflecting Evertz's objectives, estimates and expectations. Such forward looking statements use words such as "may", "will", "expect", "believe", "anticipate", "plan", "intend", "project", "continue" and other similar terminology of a forward-looking nature or negatives of those terms.

Although management of the Company believes that the expectations reflected in such forward-looking statements are reasonable, all forward-looking statements address matters that involve known and unknown risks, uncertainties and other factors. Accordingly, there are or will be a number of significant factors which could cause the Company's actual results, performance or achievements, or industry results to be materially different from any future results performance or achievements expressed or implied by such forward-looking statements.

Conference Call

The Company will hold a conference call with financial analysts to discuss the results on June 12, 2013 at 5:00 p.m. (EDT). Media and other interested parties are invited to join the conference call in listen-only mode. The conference call may be accessed by dialing 1-416-849-6166 or toll-free (North America) 1-866-250-6267.

For those unable to listen to the live call, a rebroadcast will also be available until July 11, 2013. The rebroadcast can be accessed at 1-416-915-1035 or toll-free 1-866-245-6755. The pass code for the rebroadcast is 672047.

About Evertz

Evertz Technologies Limited (TSX:ET) designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The Company's solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital and high definition television ("HDTV") broadcast environments and by telecommunications and new-media companies. The Company's products allow its customers to generate additional revenue while reducing costs through the more efficient signal routing, distribution, monitoring and management of content as well as the automation of previously manual processes.

Contacts: Evertz Technologies Limited Anthony Gridley Chief Financial Officer (905) 335 7580ir@evertz.com

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