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NEWS RELEASE
Contacts:
Sheldon Rose
Sacke & Associates Inc.
416.493.5723, ext. 202
sheldonr@sackepr.com
SANGOMA TECHNOLOGIES 2ND QUARTER RESULTS SHOW ANNUAL GROWTH
OF 95% IN REVENUES AND 194% IN NET INCOME
2nd Quarter sales climb to $1,801,587 resulting in a net income of $504,575
Toronto, ONTARIO, February 27, 2007
– 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 unaudited results for the financial quarter ended December 31, 2006.
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Q2 2006-2007 |
Q2 2005-2006 |
Increase |
| Sales |
$1.8 Million |
$0.92 Million |
95% |
| Net income before provision for income taxes |
$0.78 Million |
$0.26 Million |
200% |
| Net earnings |
$0.5 Million |
$0.17 Million |
194% |
| Net earnings per share: |
$0.018 |
$0.006 |
200% |
Both sales and net earnings represent new all time records for the company.
The company finished the quarter ended December 31, 2006 with working capital of $4.02 million, compared to $2.83 million at June 30, 2006, an increase of 42%.
"The record-setting first quarter was surpassed in the second quarter as Sangoma continued to explore new markets and opportunities," says Sangoma Technologies President and CEO, David Mandelstam. “In addition, the second quarter saw a series of new initiatives put into place from which we expect to see a continuing growth trend."
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).
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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