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Message: NTG Clarity Networks Inc. Announces First Quarter 2009 Results
| May 20, 2009 | ||
| NTG Clarity Networks Inc. Announces First Quarter 2009 Results | ||
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TORONTO, ONTARIO--(Marketwire - May 20, 2009) - NTG Clarity Networks Inc., (TSX VENTURE:NCI) the supplier of NTS, a world leading OSS (operation support system) product that enables Telecom and Network operators to manage their networks and assets, reduce time to market for new products and increase profitability, today announced first quarter 2009 revenues of $1,723,307 as compared to $1,147,342 in the same period last year (All amounts in Canadian dollars). The Company reported a net income for the three months ended March 31, 2009 of $19,844, compared to a net income of $83,276 for the comparable period last year. In this quarter results, management has included a specific allowance for bad debts of $75,000. "We continue to focus on the delivery of our innovative NTS product and the associated consulting services and training to implement the product and we are optimistic about the success of our product in the future," said Mr. Ashraf Zaghloul, CEO and Chairman of the Board of NTG Clarity, "As we look ahead, we are intent on increasing our market share in the telecom sector, expanding the software solutions, security and wireless areas of the business, and making further progress in the international marketplace." Income statement highlights for the three months ended March 31, 2009 and 2008 Mar. 31, 2009 Mar. 31, 2008
Revenue $ 1,723,307 $ 1,147,342
Cost of revenue 1,163,286 670,808
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Gross Profit 560,021 476,534
Expenses 540,177 393,258
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Net Income for the period $ 19,844 $ 83,276
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Mar. 31, 2009 Dec. 31, 2008
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Cash, end of period $ 398,231 $ 0
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Bank Facility 738,101 673,337
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Shareholder's Equity 1,617,510 1,597,666
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Total Assets $ 4,309,008 $ 3,877,181
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Established in 1992, NTG Clarity develops and markets NTS, an engineering and business tool that enables Telecom and Network operators to manage their networks and assets, reduce time to market for new products and increase profitability. NTG Clarity's services are offered internationally, with offices and operations currently in Toronto and Cairo. NTG Clarity is a leader in delivering network, IT and infrastructure solutions to telecommunications operators, Network service providers and large enterprises. |
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