News Release
Sangoma Q3 Financials Show a 24% Increase in Revenues Over Q2: Another Record Quarter in Sales and Earnings
Third quarter sales climb to $2,237,699 resulting in net income of $579,245MARKHAM, ONTARIO--(CCNMatthews - May 28, 2007) - Sangoma Technologies Corporation (TSX VENTURE:STC) (http://www.sangoma.com/), a leading provider of connectivity hardware and software products for voice, WANs and Internet infrastructure, today released highlights of its unaudited results for the financial quarter ended March 31, 2007.
Q3 2006-2007 Q3 2005-2006 Increase
Sales $2.24 million $1.33 million 68%
Net income before $0.89 million $0.53 million 69%
provision for income taxes
Net earnings $0.58 million $0.37 million 56%
Net earnings per share $ 0.021 $ 0.014 54%
Both sales and net earnings represent new all time records for the company.
The company finished the quarter ended March 31, 2007 with working capital of $4.72 million, compared to $2.83 million at June 30, 2006, an increase of 67%.
"Sangoma's revenue grew 24% in Q3 relative to our previous record Q2 numbers as our new products gain traction in the marketplace," says Sangoma Technologies President and CEO, David Mandelstam. "It is gratifying to see that we are increasingly meeting customer needs, resulting in our long-standing growth trend where we are growing faster than the market itself."
About Sangoma Technologies Corporation
Founded in 1984, Sangoma Technologies Corporation is a leading provider of connectivity hardware and software products for VoIP, TDM voice, WANs and Internet infrastructure. The company develops and manufactures voice and data communication products including the industry-leading series of Advanced Flexible Telecommunications (AFT) PCI cards. Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE:STC-NEWS).
Sacke & Associates Inc.
Sheldon Rose
(416) 493-5723, ext. 202
Email: sheldonr@sackepr.com
Website: www.sangoma.com
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