NTG Clarity Networks Announces Second Quarter 2015 Financial Results

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[{"type":"text","content":"NTG Clarity Networks Announces Second Quarter 2015 Financial Results(via Thenewswire.ca)\n\n \nToronto, ON / TheNewswire / August 27, 2015 - NTG Clarity Networks Inc. (TSX.V:NCI), a world leader in the telecommunications OSS/BSS market, today reported first half 2015 revenues of $8,033,202, as compared to $6,828,945 in 2014, an 18% increase. (All amounts in Canadian dollars). \n\n\n \nRevenues continued to improve during the first two quarters of 2015 due mainly to the renewed international focus on state-of-the-art technology and networking capabilities. Mobile applications have been the fastest growing technology trend with NTG's mobile application development being increasingly chosen as a leading product in these markets. Net income during the first half of 2015 improved modestly by 7% to $888,759 from $834,224 during the same period in 2014. \n\n \n \nFor the three months ended June 30, 2015, revenues were $3,031,041, a decrease of 22% compared to the same period in 2014. The decrease was due to the timing of new work and an exceptionally strong Q1 2015 when the bulk of work was completed for several new projects. Net income for Q2 2015 was $166,270, compared to $631,722 in 2014.\n\n \n \nAs at June 30, 2015, NTG Clarity had positive working capital of $6,789,953 ($0.19 per share) and no long-term debt.\n\n\n \nIncome statement highlights for the three and six months ended June 30, 2015 and 2014\n\n \n\n\n3 Months Ended\n\n\n\n\n6 Months Ended\n\n\n \n\n\nJune 30, 2015\n\n\n\n\nJune 30, 2014\n\n\n\n\nJune 30, 2015\n\n\n\n\nJune 30, 2014\n\n\n\n\nREVENUE\n\n\n\n\n$\n\n\n\n\n3,031,041\n\n\n\n\n$\n\n\n\n\n3,895,196\n\n\n\n\n$\n\n\n\n\n8,033,202\n\n\n\n\n$\n\n\n\n\n6,828,945\n\n\n\n\nCOST OF SALES\n\n\n \n\n\n1,820,542\n\n\n \n\n\n2,054,493\n\n\n \n\n\n5,067,884\n\n\n \n\n\n3,700,464\n\n\n\n\nGROSS PROFIT\n\n\n\n\n$\n\n\n\n\n1,210,499\n\n\n\n\n$\n\n\n\n\n1,840,703\n\n\n\n\n$\n\n\n\n\n2,965,318\n\n\n\n\n$\n\n\n\n\n3,128,481\n\n\n\n\nExpenses\n\n\n \n\n\n1,390,760\n\n\n \n\n\n898,383\n\n\n \n\n\n2,342,202\n\n\n \n\n\n2,173,055\n\n\n\n\nForeign exchange loss (gain)\n\n\n \n\n\n(259,038)\n\n\n \n\n\n32,098\n\n\n \n\n\n(561,108)\n\n\n \n\n\n(228,798)\n\n\n\n\nNet Income before taxes\n\n\n \n\n\n78,777\n\n\n \n\n\n910,222\n\n\n \n\n\n988,759\n\n\n \n\n\n1,184,224\n\n\n\n\nNet Income after taxes\n\n\n\n\n$\n\n\n\n\n166,270\n\n\n\n\n$\...

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