Business
Sangoma releases highlights of its audited results for the financial year 2007 - 2008
Sales of $12,343,600 result in 60% growth in net income to $2,912,904 MARKHAM, ON, Oct. 15 /CNW/ ...
About this update from Sangoma Technologies Corporation
[{"type":"text","content":"\n\n\n\nSales of $12,343,600 result in 60% growth in net income to $2,912,904\n\n\nMARKHAM, ON, Oct. 15 /CNW/ - Sangoma(R) Technologies Corporation (TSXV:\nSTC), the premium provider of PC-based telephony hardware and software for\nproprietary and open source networking and telephony solutions, today released\nhighlights of its results for the financial year ending June 30, 2008.\n\n\n 2007 - 2008 2006 - 2007 Increase\n\nSales $12.34 Million $8.22 Million 50%\n\nNet income before\n provision for income\n taxes $4.65 Million $2.83 Million 64%\n\nNet income $2.91 Million $1.82 Million 60%\n\nNet earnings per share\n (basic and diluted) $0.10 $0.07 54%\n\n\nBoth sales and net earnings represent all time records for the company.\n\n\nThe company finished the financial year with working capital of\n$8.96 million, compared to $5.29 million in the prior year, an increase of\n69%.\n\n\n"Sangoma has now completed eight consecutive quarters of record growth,"\nsays Sangoma Technologies President and CEO, David Mandelstam. "The challenge\nfor the coming quarters is to meet and exceed past performance in a\ndeteriorating economic climate. Our recent acquisition of Paraxip Technologies\nwill open up new markets that will help us achieve these goals."\n\n\nAbout Sangoma Technologies Corporation\n\n\nSangoma Technologies Corporation is the premium provider of PC-based\nhardware and software for proprietary and open source data and telephony\ntransport solutions. The company develops and manufactures the most scalable\nand reliable voice and Wide Area Network data cards in the industry, including\nthe award-winning Advanced Flexible Telecommunications (AFT) product line.\nFounded in 1984, Sangoma Technologies Corporation is publicly traded on the\nTSX Venture Exchange (TSXV: STC - News). Additional information on Sangoma can\nbe found at: www.sangoma.com.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\n\n","length":2269,"tagName":"div"}]