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Sangoma Reports Results for the First Quarter of Fiscal 2019: Quarterly Revenue up 81% and EBITDA up 129% over last year
(via TheNewswire) MARKHAM, ONTARIO / TheNewswire / November 22, 201...
About this update from Sangoma Technologies Corporation
[{"type":"text","content":"Sangoma Reports Results for the First Quarter of Fiscal 2019: Quarterly Revenue up 81% and EBITDA up 129% over last year(via TheNewswire)\n \n \nMARKHAM, ONTARIO / TheNewswire / November 22, 2018 - Sangoma Technologies Corporation (TSX VENTURE:STC), a trusted leader in delivering Unified Communications solutions, both in the cloud and on-premises, and the provider of the two most widely used open source communications software products in the world, today announced highlights of its first quarter unaudited results of fiscal 2019, ended September 30, 2018.\n\n\n \n\n\n\n \nFor the first quarter of fiscal 2019, sales were a record $21.44 million, 81% higher than the same quarter last year and 22% more than the immediately preceding quarter. This quarter's results include one month of the most recently completed acquisition of Digium, which closed in September.\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\"This is the first time in our history in which we have exceeded $20 million in quarterly revenue, and it's great to see the contribution from Digium on our top line right away\", said Bill Wignall, President and CEO of Sangoma. \"The integration work unfolded pretty much as planned during our first quarter and the management teams are jointly working through expected savings during the second quarter, all of which is proceeding well. I'm pleased to see EBITDA more than doubling from last year and at $2.5 million, the first quarter is a quick start that puts us well on track to achieve our $10 million in guidance for the year. We remain very excited about Sangoma's prospects following the Digium acquisition, and we are now even more confident in our ability to deliver a $100 million business in 2019.\"\n\n \n \nGross profit was $12.44 million in the first quarter of fiscal 2019 at a gross margin on 58%, a figure that is expected to increase slightly in future quarters, as Digium results will be included for the entire quarter. \n\n \n \nOperating expenses were $10.63 million in the first quarter of fiscal 2019, essentially double those of the prior year as a result of the two acquisitions completed since then. \n\n \n \nFor the ...