NTG Clarity Networks Announces First Quarter 2014 Financial Results

About this update from Ntg Clarity Networks Inc.

[{"type":"text","content":"NTG Clarity Networks Announces First Quarter 2014 Financial Results(via Thenewswire.ca)\n\n \nToronto, ON / TNW-ACCESSWIRE / May 28, 2014 / NTG Clarity Networks Inc. (TSX.V:NCI), a world leader in the telecommunications OSS/BSS market, today reported its first quarter 2014 revenues of $2,933,749 as compared to $1,486,872 in the same period last year (All amounts in Canadian dollars). \n\n\n \nThe Company reported a net income for the three months ended March 31, 2014 of $274,002 before taxes or $202,502 after taxes, compared to a net income of $202,064, for the comparable period last year. \n\n\n \nAs at March 31, 2014, NTG Clarity had positive working capital of $4,687,297 and no long-term debt.\n\n \n \nIncome statement highlights for the three months ended March 31, 2014 and 2013\n\n \n\n\nMar 31, 2014\n\n\n\n\nMarch 31, 2013\n\n\n\n\nRevenue\n\n\n\n\n$2,933,749\n\n\n\n\n$1,486,872\n\n\n\n\nCost of Sales\n\n\n\n\n 1,645,970\n\n\n\n\n 787,325\n\n\n\n\nGross profit\n\n\n\n\n 1,287,779\n\n\n\n\n 699,547\n\n\n\n\nOperating Expenses\n\n\n\n\n 739,262\n\n\n\n\n 358,610\n\n\n\n\nOther Expenses\n\n\n\n\n 274,515\n\n\n\n\n 138,873\n\n\n\n\nNet income before taxes\n\n\n\n\n$ 274,002\n\n\n\n\n$202,064\n\n\n\n\nNet income after taxes\n\n\n\n\n 202,502\n\n\n\n\n 202,064\n\n\n\n\n Per share (basic)\n\n\n\n\n$0.01\n\n\n\n\n$0.01\n\n\n\n\n (fully diluted) \n\n\n\n\n$0.01\n\n\n\n\n$0.01\n\n\n\n\nBalance Sheet Highlights\n\n\n \n \n \n\n\nMarch 31, 2014\n\n\n\n\nDecember 31, 2013\n\n\n\n\nCurrent Assets \n\n\n\n\n$ 7,113,630\n\n\n\n\n$7,323,086\n\n\n\n\nCurrent Liabilities\n\n\n\n\n$ 2,426,333\n\n\n\n\n$2,962,225\n\n\n\n\n(Current) Long-Term Debt \n\n\n\n\n$nil\n\n\n\n\n$82,986\n\n\n\n\nShareholder's Equity\n\n\n\n\n$ 7,573,145\n\n\n\n\n$7,263,837\n\n\n\n \nAbout NTG Clarity Networks Inc.\n\n\n \nNTG Clarity Networks' vision is to be a global leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 250 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises.\n\n \n \nForward Looking Information\n\n\n \nCertain statements in this release, other ...

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