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Sangoma Reports Results for the Second Quarter of Fiscal 2018. Revenue remains strong and EBITDA exceeds $1 million for the second time
(via TheNewswire) MARKHAM, ONTARIO / TheNewswire / February 13, 201...
About this update from Sangoma Technologies Corporation
[{"type":"text","content":"Sangoma Reports Results for the Second Quarter of Fiscal 2018. Revenue remains strong and EBITDA exceeds $1 million for the second time(via TheNewswire)\n \n \nMARKHAM, ONTARIO / TheNewswire / February 13, 2018 - 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 second quarter financial results and interim unaudited consolidated financial statements for the second quarter of fiscal 2018, ended December 31, 2017.\n\n \n \nFor the second quarter of fiscal 2018, sales were $11.74 million, 79% more than in the same quarter last year and the twelfth quarter in row of higher revenue versus the prior year.\n\n \n \n\n\n\nClick Image To View Full Size\n\n\n\n \n \n1 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\"I am pleased with the continued revenue strength, as sales were well above last year and were in line with the first quarter, in spite of the first quarter having been positively impacted by a large one-time order,\" said Bill Wignall, President and CEO. \"Quarterly EBITDA was above our first quarter, exceeding $1 million for the second time, and on a year-to-date basis Net Income has already exceeded 2017's full year figure. I am also very encouraged by the performance and results from the newly added CCD team who joined the Sangoma family following the acquisition last month, so I look forward to reporting combined results at the end of this quarter.\"\n\n \n \nGross profit of $5.99 million for the second quarter was 38% higher than for the second quarter of fiscal 2017, with gross margin percent at 51% of sales. \n\n \n \nOperating expenses were $5.08 million in the second quarter, up 32% from the same quarter in fiscal 2017, reflecting normal expenses in the operation of VoIP Supply and controlled spending increases to invest in Sangoma's growth. \n\n \n \nEBITDA was $1.27 million for the quarter ended December 31, 2017 up 27% from the $0.76 million in the same quarter of fiscal 2017 and at over 10% of revenue, was above our fiscal 2018 target. \n\n \n \nSangoma continues to maintain a healthy balanc...