NTG Clarity Networks Inc. Announces Second Quarter 2008 Results
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TORONTO, ONTARIO, Aug 27 (MARKET WIRE) --
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
second quarter 2008 revenues of $1,336,496 compared to $1,475,786 for the
same period last year (All amounts in Canadian dollars).
The Company reported a net income for the three months ended June 30,
2008 of $13,194, compared to a net income of $66,629 for the comparable
period last year.
"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
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June 30, 2008 and 2007
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June 30, 2008 June 30, 2007
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Revenue $ 1,336,496 $ 1,475,786
Cost of revenue 771,544 894,489
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Gross Profit 564,952 581,297
Expenses 551,758 514,668
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Net Income for the period $ 13,194 $ 66,629
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Balance Sheet Highlights as at June 30, 2008 and December 31, 2007
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June 30, 2008 Dec. 31, 2007
------------- -------------
Cash, end of period $ 0 $ 0
--------- ---------
--------- ---------
Bank Facility 764,363 570,842
--------- ---------
--------- ---------
Shareholder's Equity 1,154,718 1,058,248
--------- ---------
--------- ---------
Total Assets $ 3,873,151 $ 3,471,159
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In an unrelated matter, the Company announced that Ronald Preston has
resigned from the Board of Directors.
ABOUT NTG CLARITY NETWORKS INC
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.
FORWARD LOOKING INFORMATION
Certain statements in this release, other than statements of historical
fact, are forward looking information that involves various risks and
uncertainties. Such statements relating to, among other things, the
prospects for the company to enhance operating results, are necessarily
subject to risks and uncertainties, some of which are significant in
scope and nature.
These uncertainties may cause actual results to differ from information
contained herein. There can be no assurance that such statements will
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral forward looking statements are based on the
estimates and opinions of the management on the dates they are made and
expressly qualified in their entirety by this notice. The Company assumes
no obligation to update forward looking statements should circumstances
or management's estimates or opinions change.
The TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of
this release.
Contacts:
NTG Clarity Networks Inc.
Ashraf Zaghloul
Chief Executive Officer and Chairman
(905) 305-1325
(905) 752-0469 (FAX)
Email: azaghloul@ntgclarity.com
NTG Clarity Networks Inc.
Investor Enquiries
Email: investorrelations@ntgclarity.com
Website: www.ntgclarity.com
Copyright 2008, Market Wire, All rights reserved.
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