NTG Clarity Reports a Record First Quarter 2023 with $635K Profit and a Revenue of $6.1M

About this update from Ntg Clarity Networks Inc.

[{"type":"text","content":"NTG Clarity Reports a Record First Quarter 2023 with $635K Profit and a Revenue of $6.1M\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON -\n \n \n TheNewswire\n \n \n - May 29, 2023 -\n \n \n NTG Clarity Networks Inc.\n \n \n (TSX.V:NCI)\n \n \n ,\nannounces\n \n \n its first quarter results for the\nperiod ended March 31, 2023 (all figures in Canadian Dollars).\n \n \n \n \n NTG’s continued hard work and dedication resulted in\nQ1 2023 being the highest single quarter revenue at $6.1M. Revenues\nfor Q1 2023 were up 40% compared to Q1 in 2022 and we continued to be\nprofitable for the quarter, despite significant currency devaluation\nchallenges in Egypt.\n \n \n \n \n As previously announced, going forward, NTG will\ncontinue to focus on promoting and expanding the following:\n \n \n \n \n 1.        Our product offerings that provide a\nhigher profit margin. We are focused on our NTGapps digital\ntransformation platform that integrates with our Network Asset\nManagement product. Digital Transformation is one of the current key\nobjectives of most organizations and NTGapps provides a tool to enable\nthese organization to achieve this goal in using a phased approach\nwhile integrating with their legacy systems. We believe that NTGapps\nis one of the best digital transformation platforms available. It\nenables our customers to consolidate their end-to-end business\nsoftware and integrate with specialty third-party platforms, enhancing\noperational efficiency and saving clients time that can instead be\nused to create new revenue streams.\n \n \n \n \n 2.        Our outsourcing/offshoring services.\nThese services provide good cash flow and margin for the business.\nThey help in acquiring new customers on a short sale cycle. This gives\nus the opportunity to introduce our products to these customers. NTG\nhas invested in expanding our Offshore Centre in Egypt and that has\nproven to be very successful.\n \n \n \n \n \n \n Income\nStatement Highlights for the Three Months Ended March 31, 2023 and\n2022\n \n \n \n \n \n \n \n \n \n March 31, 2023\n \n \n \n \n \n \n March 31, 2022\n \n \n \n \n \n \n \n \n REVENUE\n \n \n \n \n \n \n $\n \n \n \n \n \n \n 6,127,177\n \n \n \n \n \n \n $\n \n \...

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