Business
NTG Clarity Networks Announces Third Quarter Revenues and Earnings
(via Thenewswire.ca) October 15, 2013. Toronto Ontario: NTG Clarity Networks Inc., (TSX ...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Networks Announces Third Quarter Revenues and Earnings(via Thenewswire.ca)\n\n \nOctober 15, 2013. Toronto Ontario: NTG Clarity Networks Inc., (TSX VENTURE:NCI), a world leader in the telecommunications OSS/BSS market, is pleased to announce third quarter 2013 financial results. \n\n\n \nThe Company experienced a 171% increase in revenues during the third quarter of 2013 reaching $3,767,669 compared to $1,386,554 during the same period in 2012. (All amounts in Canadian dollars). \n\n\n \nThis increase in revenue was mainly due to demand for our professional services and product-related business. For the nine months, the Company posted revenues of $7,403,921 compared to $3,670,722, an increase of over 100%. Gross margin was 44% for the third quarter of 2013, and 50% for the nine months. Gross margins in the prior year were 48% and 42% for the 3 and 9 month periods respectively. \n\n\n \nNet income for the third quarter of 2013 increased by 343% to $784,669 or $0.02 per share and again exceeded the entire annual profit from 2012. For the first 9 months of 2013, net income rose 458% to $1,816,136 or $0.06 per share as compared to $325,314 or $0.01 per share in the first three quarters of 2012. The increase in profitability was due mainly to increased revenues and higher margins.\n\n\n \nAs at September 30, 2013, NTG Clarity had positive working capital of $3,869,577 ($0.12 per share).\n\n\n \nIncome statement highlights for the three and nine months ended September 30, 2013 and 2012 \n\n\n \n\n -------------------------------------------------------------------\n |  |3 Months Ended |9 Months Ended |\n |-----------------------------------------------------------------|\n |  |Sept 30, 2013|Sept 30, 2012|Sept 30, 2013|Sept 30, |\n | | | | |2012 |\n |-----------------------------------------------------------------|\n |REVENUE |3,767,669 |1,386,554 |7,403,921 |3,670,722|\n |-----------------------------------------------------------------|\n |COST OF SALES|2,102,245 |718,411 |3,683,395 |2,114,483|\n |-----------------------------------------------------------------|\n |GROSS PROFIT |1,665,424 |668,143 |3,720,526 |1,556,239|\n |-----------------------------------------------------------------|\n |Expenses |839,203 |406,541 |        |1,163,926|\n | | | |2,066,226 | |\n |--------------------------...