MARKHAM, ONTARIO - (CCNMatthews - Nov. 28, 2006) - Sangoma Technologies Corporation (TSX VENTURE:STC) (www.sangoma.com), a leading provider of connectivity hardware and software products for voice, WANs and Internet infrastructure, today released highlights of its audited results for the financial quarter ended September 30, 2006.
Q1 2006-2007 Q1 2005-2006 Increase
Sales $1.55 Million $1.20 Million 29%
Net income before provision
for income taxes $0.61 Million $0.42 Million 47%
Net earnings $0.40 Million $0.28 Million 44%
Net earnings per share: $0.014 $0.010 44%
Both sales and net earnings represent all time records for the company.
The company finished the quarter ended September 30, 2006 with working capital of $3.33 million, compared to $2.83 million at June 30, 2006, an increase of 18%.
"We continue to see significant growth in our first quarter following the stellar fiscal year we had in 2005/06," says Sangoma Technologies president and CEO, David Mandelstam.
"As we introduce new products in the coming quarters, we expect to see our numbers continue to trend upwards."
About Sangoma Technologies Corporation
Founded in 1984, Sangoma Technologies Corporation is a leading provider of connectivity hardware and software products for VoIP, TDM voice, WANs and Internet infrastructure. The company develops and manufactures voice and data communication products including the industry-leading series of Advanced Flexible Telecommunications (AFT) PCI cards. Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC - News).
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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