Business
NTG Clarity Networks Announces a Positive Second Quarter 2021
(TheNewswire) Toronto, ON – T heNewswire - August 18, 2021...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Networks Announces a Positive Second Quarter 2021\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON – T\n \n \n heNewswire -\n \n \n August 18, 2021 - NTG Clarity Networks Inc.\n(TSXV:NCI)\n \n \n ,\n \n \n announces its\nsecond quarter results for the period ended June 30, 2021 (all figures\nin Canadian Dollars).\n \n \n \n \n We have continued our road back to profitability with\nthe fourth straight quarter of positive results. This quarter’s net\nincome was $459,813, making the total for the four consecutive\npositive quarters of $1,229,374. Our gross margin for this quarter was\n40% and the income from operations was $689,818.\n \n \n \n \n The COVID-19 pandemic continues to present a\nsignificant source of economic uncertainty however despite\nrestrictions on travel, market/trade shows and client/potential client\nvisits, our collections have remained current and we have no bad debt\nrecorded in Q2 2021. Our outsourced resources and project-focused\nstaff are continuing to work remotely as much as possible. Office\nstaff in Egypt is rotating between working from the office and working\nremotely.\n \n \n \n \n In April, we announced the receipt of a Contract\nPurchase Agreement with a major financial institution in the Middle\nEast to provide onshore and offshore professional resources. The\nestimated annual revenue would reach $3.6 million. This is an\nextension of existing work/resources and will add extra\nresources.\n \n \n \n \n In May, we announced the receipt of multiple purchase\norders for a total estimated amount of $900K in contract value to\nprovide IT, telecom and professional resources.\n \n \n \n \n In June, we introduced our NTGapps Digital Toolbox,\nwhich is built on the NTG Smart2Go platform. This cloud-based suite of\ndigital tools helps Telecom Operators perform their jobs in a simple,\nefficient manner. The orders received as of this date are valued at\napproximately $1.1 Million. For more information, please visit\n \n \n \n \n www.ntgapps.com\n \n \n \n \n .\n \n \n \n \n Consolidated revenue for the three and six months ended\nJune 30, 2020 was $2,621,252 and $4,919,559 compared to $1,651,209 and\n$4,125,975 for the same periods in 2020\n \n \n and is\nmade up of product-related revenue and professional services.\n \n \n \n \n Gross margin for Q2 2021 was $...