Sales of $12,343,600 result in 60% growth in net income to $2,912,904
MARKHAM, ON, Oct. 15 /CNW/ - Sangoma(R) Technologies Corporation (TSXV: STC), the premium provider of PC-based telephony hardware and software for proprietary and open source networking and telephony solutions, today released highlights of its results for the financial year ending June 30, 2008.
2007 - 2008 2006 - 2007 Increase Sales $12.34 Million $8.22 Million 50% Net income before provision for income taxes $4.65 Million $2.83 Million 64% Net income $2.91 Million $1.82 Million 60% Net earnings per share (basic and diluted) $0.10 $0.07 54%
Both sales and net earnings represent all time records for the company.
The company finished the financial year with working capital of $8.96 million, compared to $5.29 million in the prior year, an increase of 69%.
"Sangoma has now completed eight consecutive quarters of record growth," says Sangoma Technologies President and CEO, David Mandelstam. "The challenge for the coming quarters is to meet and exceed past performance in a deteriorating economic climate. Our recent acquisition of Paraxip Technologies will open up new markets that will help us achieve these goals."
About Sangoma Technologies Corporation
Sangoma Technologies Corporation is the premium provider of PC-based hardware and software for proprietary and open source data and telephony transport solutions. The company develops and manufactures the most scalable and reliable voice and Wide Area Network data cards in the industry, including the award-winning Advanced Flexible Telecommunications (AFT) product line. Founded in 1984, 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.
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