Sangoma Releases Highlights of its Audited Results for the Financial Year 2005-200624 October 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 year ended June 30, 2006.
2005-2006 2004-2005 Increase
Sales $4.78 Million $3.44 39%
Net income before provision $1.50 Million $0.96 Million 56% for income taxes
Net earnings $1.01 Million $0.66 Million 51%
Net earnings per share: $0.037 $0.024 51%
Both sales and net earnings represent all time records for the company.
The company finished the financial year with working capital of $2.84 million, compared to $1.79 million in the prior year, an increase of 58%.
"It is gratifying to see the market react so positively to our best of breed product lines and innovative engineering," says Sangoma Technologies president and CEO David Mandelstam. "As the telecom industry continues its recovery and the burgeoning voice-data integration market accelerates in growth, Sangoma is poised to ride the new telephony wave."
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).
Contacts: Sacke & Associates Inc. Sheldon Rose (416) 493-5723, ext. 202 Email: sheldonr@sackepr.com Website: www.sangoma.com
SOURCE: Sangoma Technologies Corporation
Source: marketwire
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