Sangoma Second Quarter Results Show Annual Net Income Growth of 147%
Record sales of $3.07 million results in record net earnings of $0.76 million
MARKHAM, ONTARIO, February 27, 2008 - Sangoma Technologies Corporation (TSXV: STC), the premium provider of PC-based telephony hardware and software products for proprietary and open source based networking and telephony solutions, today released highlights of its unaudited financial results for the quarter ended December 31, 2007.
Sales were $3.07 million for the quarter ended December 31, 2007 as compared to $1.80 million for the quarter ended December 31, 2006, an increase of 70%. Net income after provision for taxes were $0.76 million for the quarter ended December 31, 2007, 147% higher than net income for the corresponding quarter in 2006.
Both sales and net income figures are all-time records for the Corporation.
The Corporation completed the financial quarter ended December 31, 2007 with working capital of $7.25 million, as compared to $5.29 million on June 30, 2007, an increase of 37%.
"We have reached an all-time high in our sales and net income figures after five consecutive quarters of consistent sales records, and growth in nine of the twelve previous quarters. This record speaks to the strides that we are making within the industry," said David Mandelstam, President and CEO of Sangoma Technologies Corporation. "As we continue to bring premium products to the market, we anticipate continued success and growth."
About Sangoma Technologies Corporation
Sangoma Technologies Corporation is the premium provider of PC-based hardware and software for proprietary and open source based data and telephony transport solutions. The company develops and manufactures voice and data communication products including the AFT range of PCI cards that are the most scalable and reliable in the industry.
Founded in 1984, Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC - News). Additional information on Sangoma can be found at: www.sangoma.com.
Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC - News). The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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