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Sangoma Reports Results for the First Quarter of Fiscal 2018. Revenue doubles year-over-year and quarterly EBITDA exceeds $1 million for the first time
(via TheNewswire) MARKHAM, ONTARIO / TheNewswire / November 16, 2017 - ...
About this update from Sangoma Technologies Corporation
[{"type":"text","content":"Sangoma Reports Results for the First Quarter of Fiscal 2018. Revenue doubles year-over-year and quarterly EBITDA exceeds $1 million for the first time(via TheNewswire)\n \n \nMARKHAM, ONTARIO / TheNewswire / November 16, 2017 - Sangoma Technologies Corporation (TSX VENTURE:STC), a trusted leader in delivering Unified Communications solutions for SMBs, Enterprises, OEMs, and Service Providers, both on-premises and in the cloud, today announced highlights of its first quarter financial results and interim unaudited consolidated financial statements for the first quarter of fiscal 2018, ended September 30, 2017.\n\n \n \nFor the first quarter of fiscal 2018, sales were a record $11.85 million, more than double that of the same quarter last year and more than 50% over the immediately preceding quarter. \n\n \n \n\n\n\nClick Image To View Full Size\n\n\n\n \n \n 1 Operating Income and EBITDA are metrics used by the Company to monitor its performance and the definitions may be found in the accompanying MD&A posted today at www.sedar.com.\n\n \n \n \"Our first quarter results provide a very good start to the year\", said Bill Wignall, President and CEO of Sangoma. \"Revenue was strong, augmented by a large one-time order that will not recur next quarter, which helped offset the significant revenue impact of a substantially weakened US dollar and the seasonality exhibited in prior years. It is especially gratifying to see our quarterly EBITDA above $1 million for the first time. I'm also really pleased with the positive contribution, as anticipated, from the VoIP Supply acquisition completed early in the quarter. I'd like to extend a warm welcome to that great group of talented people in Buffalo, who are now part of the growing Sangoma family.\"\n\n \n \nGross profit was $6.12 million for the first quarter, with gross margin percent at 52%. \n\n \n \nOperating expenses were $5.37 million in the first quarter, up 48% from the same quarter in fiscal 2017, primarily resulting from modest spending increases to support Sangoma's growth and from the acquisition of VoIP Supply. \n\n \n \nEBITDA was $1.10 million for the quarter ended September 30, 2017 up from $0.42 in the same quarter of fiscal 2017 and also materially above the $0.70 million earned in the immediately preceding fourth quarter, by over 50%. \n\n \n \nSangoma continues to ...