MARKHAM, ONTARIO, August 23, 2017 – Sangoma Technologies Corporation (TSX VENTURE:STC), a trusted leader in delivering Unified Communications solutions for SMBs, Enterprises, OEMs, and Service Providers, both on-premises and in the cloud, today announced preliminary unaudited revenue for the fourth quarter of fiscal 2017 ended June 30, 2017.
Sales for the fourth quarter of fiscal 2017 are expected to be approximately $7.6 million, an increase of 12% from the immediately preceding third quarter of fiscal 2017. Revenue for the full year of fiscal 2017 is expected to be approximately $26.8 million, an increase of about 26% from the prior year.
“Many of our shareholders seek information about our fourth quarter, before the full audit cycle is completed”, noted David Moore, Sangoma’s Chief Financial Officer. “This release is a way for us to accelerate disclosure on the top line, given Sangoma will announce our full financial results as usual after the completion of the annual audit. At that point, we will hold a conference call with investors to discuss the results in detail, and at that time we will also be updating our guidance for fiscal 2018 to include the impact expected from the VoIP Supply acquisition.”
“I am pleased with the way this year unfolded and that we have finished on a strong note”, said Bill Wignall, President and CEO of Sangoma. “Sales have continued to grow across the portfolio, the successful release of IP phones has completed our end-to-end Unified Communications offering, we launched our Hosted-PBX service to add to our other Cloud services streams, and just after year-end we closed our fifth acquisition in five years.”