August 28, 2014 / 5:20 AM / 3 years ago

EVS cuts 2014 revenue guidance

BRUSSELS, Aug 27 (Reuters) - Belgian broadcast technology group EVS on Thursday said its 2014 revenues would be lower than initially forecast, as the group saw a moderate slowdown of the broadcast industry.

The group, which had previously guided for 2014 revenues to rise by high single digits, said it now expected low single digit growth, with the slowdown particularly in the market for live productions.

It also said its operating expenses would increase by between 10 and 13 percent, down from an initial guidance of 10 to 15 percent.

EVS said its order book at the end of August stood at 40.9 million euros ($54.0 million), down from the 44.9 million euros at the end of May and 15.5 percent higher than in the same period last year.

$1 = 0.7569 Euros Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop

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