Record sales of $8,223,216 result in 80% growth in net income to
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.
For further information:
For further information: Sangoma Technologies Corporation Kathleen Reed,
905-474-1990 ext. 115 Marketing Director firstname.lastname@example.org