MARKHAM, ONTARIO / TNW-ACCESSWIRE / July 29, 2014 – Sangoma Technologies Corporation (TSX VENTURE:STC), a leading provider of hardware and software components that enable or enhance IP Communications Systems for both voice and data, today announced preliminary unaudited revenue for the fourth quarter of fiscal 2014 ended June 30, 2014.
Sales for the fourth quarter of fiscal 2014 are expected to be approximately $4 million, an increase of 14% from the immediately preceding third quarter of fiscal 2014 and about flat compared with the same quarter of fiscal 2013. Revenue for the full year of fiscal 2014 is expected to be approximately $13.8 million, an increase of about 7% from the prior year.
“I am moderately pleased with the way this year unfolded overall, though slightly disappointed that our fourth quarter sales were not as strong as we’d expected”, said Bill Wignall, President and CEO of Sangoma. “Sales of our new products continue to grow and will represent close to half of our revenue for fiscal 2014, an impressive accomplishment in under three years, a period that included the entire development cycles of completely new product lines for Sangoma. And I’m somewhat encouraged that the decline in sales of our legacy products was much more modest this year. We know that Sangoma’s fiscal first quarter revenue is typically lower than the prior year’s fourth quarter, due to the seasonality of a weak summer period. I therefore expect our Q1 sales to be well below this $4 million level, but everyone at Sangoma remains focused on the objective of delivering growth above last year’s first quarter sales level.”
David Moore, Sangoma’s Chief Financial Officer noted that, “many of our shareholders seek information about our fourth quarter, before the full audit cycle is completed. This release is a way for us to further accelerate disclosure and increase transparency. We will do this only for fourth quarters, when the release cycle is longer. Sangoma will announce its full annual financial results after completion of the annual audit, and the full release will be followed shortly thereafter by a conference call to discuss the results with investors.”