News Release
Sangoma Technologies Announces Second Quarter Results
NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: SANGOMA TECHNOLOGIES CORPORATION TSX VENTURE SYMBOL: STC FEBRUARY 17, 2005 - 17:13 ET Sangoma Technologies Announces Second Quarter Results TORONTO, ONTARIO--(CCNMatthews - Feb. 17, 2005) - Net income of $210,975 on sales of $897,182 for the quarter ended December 31, 2004 Sangoma Technologies Corporation (TSX VENTURE:STC) (www.sangoma.com), a leading provider of connectivity hardware and software products for WANs and Internet infrastructure, today released highlights of its unaudited results for the quarter ended December 31, 2004. The Company reported sales for the quarter ended December 31, 2004 of $897,182 as compared with $943,893 million for the quarter ended December 31, 2003, a decrease of 4%. However, in US Dollar terms, the quarter's sales represent a record for the company. The sales for the quarter ended December 31, 2004 represent an increase of 99% as compared to sales for the previous quarter ended September 30 2004. After taking into account current and future income taxes, the net income was $210,975 ($0.008 per share) as compared to $211,773 in the quarter ended December 31, 2003. Operating cash flow before changes in non-cash working capital was $414,338 in the quarter ended December 31, 2004 as compared to $419,105 in the quarter ended December 31, 2003. The Company's working capital balance was $1,565,940 at December 31, 2004 as compared to $1,373,900 on June 30, 2004. About Sangoma Technologies Corporation Founded in 1984, Sangoma develops and manufactures wide area network (WAN) communication hardware and software products, with an emphasis on the PC platform. The communications solutions, voice, data and video gateways support all popular WAN networks, line protocols and all standard PC operating systems and platforms including Linux, Windows, FreeBSD, Sun Solaris, NetWare and DOS. Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC - News). -30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Sacke & Associates Inc.
Sheldon Rose
(416) 493-5723, ext. 202
sheldonr@sackepr.com
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