Record sales of $8,223,216 result in 80% growth in net income to $1,817,405
MARKHAM, ONTARIO, October 29 /CNW/ - Sangoma Technologies Corporation (TSXV: STC), the premium provider of telephony and network hardware and software products supporting telephony, wide area networks and Internet infrastructure, today released highlights of its results for the financial year ending June 30, 2007.
2006 - 2007 2005 - 2006 Increase Sales $8.22 Million $4.78 Million 72% Net income before provision for $2.83 Million $1.50 Million income taxes 89% Earnings before provision for $1.82 Million $1.01 Million income taxes 80% Net earnings per share (undiluted): $0.07 $0.04 77%
Both sales and net earnings represent all time records for the company.
The company finished the financial year with working capital of $5.29 million, compared to $2.84 million in the prior year, an increase of 86%.
"Sangoma's reputation for quality and reliability is continuing to drive record results," says Sangoma Technologies President and CEO, David Mandelstam. "Sales have continued to show strong growth every quarter, as we continue to expand our channels, and despite the rise in the Canadian Dollar."
About Sangoma Technologies Corporation
Founded in 1984, Sangoma Technologies Corporation is a leading provider of connectivity hardware and software products for telephony and wide area network solutions. The company develops and manufactures voice and data communication products including the industry-leading series of Advanced Flexible Telecommunications (AFT) PCI cards. Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC - News). Additional information on Sangoma can be found at: www.sangoma.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.