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Sangoma Reports Results For The Third Quarter Of Fiscal 2018. Revenues exceeded $16 million and EBITDA approaches $2 million
(via TheNewswire) Markham, Ontario / TheNewswire / May 15, 2018 - San...
About this update from Sangoma Technologies Corporation
[{"type":"text","content":"Sangoma Reports Results For The Third Quarter Of Fiscal 2018. Revenues exceeded $16 million and EBITDA approaches $2 million(via TheNewswire)\n \n \nMarkham, Ontario / TheNewswire / May 15, 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 third quarter financial results and interim unaudited consolidated financial statements for the third quarter of fiscal 2018, ended March 31, 2018.\n\n \n \nFor the third quarter of fiscal 2018, sales were $16.24 million, 138% more than in the same quarter last year and the thirteenth quarter in row of higher revenue versus the prior year. \n\n \n \n\nClick Image To View Full Size\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 that the results of our third quarter, the first one since our latest acquisition, surpassed our expectations with strong revenue momentum and with EBITDA approaching $2 million,\" said Bill Wignall, President and CEO. \"When acquiring a business via a 'carve-out', there is always a very significant integration effort. We have now transitioned the CCD customers and have mostly closed down the prior systems to move the business to Sangoma's infrastructure. To have done so in short order was no small feat, and I'd like to personally thank all the people in the combined company who were involved in making that happen. And I'd also like to express my gratitude to all the CCD staff for a very positive contribution this quarter from the newly acquired business.\"\n\n \n \nGross profit of $8.90 million for the third quarter was double that of the third quarter of fiscal 2017, with gross margin percent at 55% of sales reflecting the addition of the newly acquired customer sales. \n\n \n \nOperating expenses were $7.56 million in the third quarter, up 88% from the same quarter in fiscal 2017, reflecting the addition of the two acquisitions and their associated staffs. \n\n \n \nEBITDA was $1.90 million for the quarter ended March 31, 2018 up 160% from the $0.73 million in the same quarter of fiscal 2017 and at over 10% of re...