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
"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.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Media Contacts: Kathleen Reed, Marketing
Director, Sangoma Technologies Corporation, (905) 474-1990 ext 115,