News Release
Sangoma Second Quarter 2009-2010 Results Show Annual Revenue Growth of 14%
Sales of $2.97 million result in net earnings of $0.37 million
MARKHAM, ONTARIO--(Marketwire - Feb. 22, 2010) - Sangoma Technologies Corporation (TSX VENTURE:STC), today released highlights of its unaudited financial results for the quarter ended December 31, 2009.
| Q1 2009–2010 | Q1 2008–2009 | Change | ||
| Sales | $2.97 million | $2.60 million | +14 | % |
| Net income before provision for taxes | $0.63 million | $1.70 million | -62 | % |
| Net income | $0.37 million | $1.11 million | -67 | % |
| EBITDA | $0.95 million | $1.89 million | -50 | % |
| Net earnings per share (fully diluted) | $0.013 | $0.036 |
Net income was dominated by a foreign exchange expense differential of $1.1 million between the two comparative quarters.
While cash flow was negative $0.15 million during the quarter ended December 31, 2009, working capital was maintained at $8.60 million, 7% higher than at June 30, 2009. Total cash and equivalents was $7.40 million at the end of the quarter.
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Sangoma Technologies Corporation
Serge Forest
Vice President of Marketing
(514) 288-7111 Ext. 223
sforest@sangoma.com
www.sangoma.com
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