News Release
Sangoma Technologies Announces Record First Quarter Results
TORONTO, ONTARIO--(CCNMatthews - Nov. 28, 2005) -Sales of $1,201,552 yield net income of $279,371 for the quarter ended September 30, 2005
Sangoma Technologies Corporation (TSX VENTURE:STC) (www.sangoma.com), a leading provider of connectivity hardware and software products for VoIP, TDM voice, WANs and Internet infrastructure, today released highlights of its unaudited results for the quarter ended September 30, 2005.
The Company reported sales for the quarter ended September 30, 2005 of $1,201,552 as compared to $450,287 for the quarter ended September 30, 2004, an increase of 167%. The quarter's sales represent an all-time record for the company.
After taking into account current and future income taxes, the net income was $279,371 ($0.010 per share) as compared to $23,139 ($0.001 per share) for the quarter ended September 30, 2004.
Operating cash flow before changes in non-cash working capital was $390,432 in the quarter ended September 30, 2005 as compared to $107,771 in the quarter ended September 30, 2004. The Company's working capital balance was $2,111,233 at September 30, 2005 as compared to $1,791,957 on September 30, 2005.
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 and Sun Solaris. Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC - News).
Sacke & Associates Inc.
Sheldon Rose
416.493.5723, ext. 202
sheldonr@sackepr.com
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