NTG Clarity Networks Announces Record Second Quarter 2014 Financial Results

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[{"type":"text","content":"NTG Clarity Networks Announces Record Second Quarter 2014 Financial Results(via Thenewswire.ca)\n\n \nToronto, ON / TNW-ACCESSWIRE / August 18, 2014 / NTG Clarity Networks Inc. (TSX.V:NCI), a world leader in the telecommunications OSS/BSS market, today reported record second quarter 2014 revenues of $3,895,196 as compared to $2,149,380 in the same period last year, an 81% increase. Year to date revenues are $6,828,945 compared to $3,636,252 in 2013, an 88% increase (All amounts in Canadian dollars). \n\n\n \nThe Company reported net income for the three months ended June 30, 2014 of $910,222 before taxes or $631,722 after taxes, compared to a net income of $829,403 (no taxes) for the comparable period last year. For the six month period, pre-tax earnings were $1,184,224 or $0.03 per share this year compared to $1,031,467 or $0.03 per share last year. The Company booked income taxes of $350,000 for YTD 2014 resulting in net after tax income of $834,224.\n\n\n \nAs at June 30, 2014, NTG Clarity had positive working capital of $5,434,931 ($0.15 per share) and no long-term debt.\n\n \n \nIncome statement highlights for the three and six months ended June 30, 2014 and 2013\n\n \n\n\n3 Months Ended\n\n\n\n\n6 Months Ended\n\n\n \n\n\nJune 30, 2014\n\n\n\n\nJune 30, 2013\n\n\n\n\nJune 30, 2014\n\n\n\n\nJune 30, 2013\n\n\n\n\nREVENUE\n\n\n\n\n$\n\n\n\n\n3,895,196\n\n\n\n\n$\n\n\n\n\n2,149,380\n\n\n\n\n$\n\n\n\n\n6,828,945\n\n\n\n\n$\n\n\n\n\n3,636,252\n\n\n\n\nCOST OF SALES\n\n\n \n\n\n2,054,493\n\n\n \n\n\n793,825\n\n\n \n\n\n3,700,464\n\n\n \n\n\n1,581,150\n\n\n\n\nGROSS PROFIT\n\n\n\n\n$\n\n\n\n\n1,840,703\n\n\n\n\n$\n\n\n\n\n1,355,555\n\n\n\n\n$\n\n\n\n\n3,128,481\n\n\n\n\n$\n\n\n\n\n2,055,102\n\n\n\n\nExpenses\n\n\n \n\n\n898,383\n\n\n \n\n\n699,400\n\n\n \n\n\n2,173,055\n\n\n \n\n\n1,227,023\n\n\n\n\nForeign exchange loss (gain)\n\n\n \n\n\n32,098\n\n\n \n\n\n(173,248)\n\n\n \n\n\n(228,798)\n\n\n \n\n\n(203,388)\n\n\n\n\nNet Income before taxes\n\n\n \n\n\n910,222\n\n\n \n\n\n829,403\n\n\n \n\n\n1,184,224\n\n\n \n\n\n1,031,467\n\n\n\n\nNet Income after taxes\n\n\n\n\n$\n\n\n\n\n631,722\n\n\n\n\n$\n\n\n\n\n829,403\n\n\n\n\n$\n\n\n\n\n834,224\n\n\n\n\n$\n\n\n\n\n1,031,467\n\n\n \n \n \n \n \n \n \n \n \n\n\nPer Share\n\n\n\n\n$\n\n\n\n\n0.02\n\n\n\n\n$\n\n\n\n\n0.03\n\n\n\n\n$\n\n\n\n\n0.02\n\n\n\n\n$\n\n\n\n\n0.03\n\n\n\n \nBalance...

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