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Sangoma First Quarter 2009-2010 Results Show Annual Revenue Growth of 20%
MARKHAM, ONTARIO, Nov 23, 2009 (Marketwire via COMTEX) --
Sangoma Technologies Corporation (TSX VENTURE:STC), today released highlights of its unaudited financial results for the quarter ended September 30, 2009.
Q1 2009-2010 Q1 2008-2009 Change
Sales $3.12 million $2.60 million +20%
Net income before $0.88 million $1.03 million -14%
provision for taxes
Net income $0.56 million $0.68 million -18%
EBITDA $1.18 million $1.17 million +1%
Net earnings per share $0.019 $0.024
(fully diluted)
Working capital increased by 7% during the quarter to $8.60 million. Cash flow was positive $0.63 million representing $0.021 per share of net cash flow, fully diluted. Total cash and equivalents was $7.50 million at the end of the quarter.Net income was affected by a foreign exchange loss due to the change in the Canadian dollar/US dollar exchange rate.
About Sangoma Technologies Corporation
Sangoma is the premium provider of voice and data connectivity components for software-based communication applications. Sangoma's data cards, voice cards, gateways and connectivity software are used in leading PBX, IVR, contact center and data- communication applications worldwide. The product line represents a comprehensive toolset for deploying cost-effective, powerful, and flexible software communication applications.
Founded in 1984, Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE:STC). Additional information on Sangoma can be found at: www.sangoma.com.
SOURCE: Sangoma Technologies Corporation
Sangoma Technologies Corporation
Serge Forest
Vice President of Marketing
(514) 288-7111 Ext. 223
sforest@sangoma.com
www.sangoma.com
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