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NEWS RELEASE
Contact:
Sacke & Associates Inc.
416.493.5723, ext. 202
sheldonr@sackepr.com
SANGOMA RELEASES HIGHLIGHTS OF ITS AUDITED RESULTS FOR THE FINANCIAL YEAR 2005-2006
Record sales of $4,775,579 result in 51% growth in net income to $1,007,666
TORONTO, October 23, 2006 Sangoma Technologies Corporation (TSXV: STC) (www.sangoma.com), a leading provider of connectivity hardware and software products for voice, WANs and Internet infrastructure, today released highlights of its audited results for the financial year ended June 30, 2006.
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|
2005-2006 |
2004-2005 |
Increase |
|
Sales |
$4.78 Million |
$3.44 Million |
39% |
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Net income before provision for income taxes |
$1.50 Million |
$0.96 Million |
56% |
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Net earnings |
$1.01 Million |
$0.66 Million |
51% |
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Net earnings per share: |
$0.037 |
$0.024 |
51% |
Both sales and net earnings represent all time records for the company.
The company finished the financial year with working capital of $2.84 million, compared to $1.79 million in the prior year, an increase of 58%.
It is gratifying to see the market react so positively to our best of breed product lines and innovative engineering, says Sangoma Technologies president and CEO David Mandelstam. As the telecom industry continues its recovery and the burgeoning voice-data integration market accelerates in growth, Sangoma is poised to ride the new telephony wave.
About Sangoma Technologies Corporation
Founded in 1984, Sangoma Technologies Corporation is a leading provider of connectivity hardware and software products for VoIP, TDM voice, WANs and Internet infrastructure. 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). |
