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Releases Third Quarter 2008-2009 Results
May 11, 2009 02:43PM
May 11, 2009
Sangoma Releases Third Quarter 2008-2009 Results
Sales of $2.76 million results in net earnings of $0.70 million
MARKHAM, ONTARIO--(Marketwire - May 11, 2009) - Sangoma Technologies Corporation (TSX VENTURE:STC), today released highlights of its unaudited financial results for the quarter ended March 31, 2009.
Sales were $2.76 million for the quarter ended March 31, 2009 as compared to $3.21 million for the quarter ended March 31, 2008, a decrease of 14%, but 6% higher than sales during the previous quarter ended December 31, 2008. Net income after provision for taxes was $0.70 million for the quarter ended March 31, 2009, 28% lower than net income for the corresponding quarter in 2008 ($0.96 million).
The decline in sales relative to sales in the quarter ended March 31, 2008 occurred worldwide, except for sales in Canada, which increased.
The Corporation completed the financial quarter ended March 31, 2009 with working capital of $7.63 million, as compared to $8.96 million on June 30, 2008, a decrease of 15%. The decrease was due to the purchase of Paraxip Technologies Inc. of Montreal in July 2008. Cash flow was positive $0.35 million during the quarter ended March 31, 2009.
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.