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  NTG Clarity Networks Inc. Announces Second Quarter 2008 Results
   
   
 

August 27, 2008. Toronto Ontario: NTG Clarity Networks Inc., (TSX-VEN: 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 June 30, 2008 and 2007
 
     
  June 30, 2008 June 30, 2007
Revenue $ 1,336,496 $ 1,475,786
Cost of revenue 771,544 894,489
 
Gross profit 564,952 581,297
     
Expenses 551,758 514,668
Net Income for the period $ 13,194 $ 66,629
 
     
   
  Balance Sheet Highlights as at June 30, 2008 and December 31, 2007
 
     
  June 30, 2008 June 30, 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
 
     
     
 
  In an unrelated matter, the Company announced that Ronald Preston has resigned from the Board of Directors.

 

About NTG Clarity Networks

 
 

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

 
 

NTG Clarity's mission is to be the worlds leading networking solutions company. Established in 1992, NTG Clarity is a Canadian leader in delivering networking, IT and network-enabled application software solutions to network service providers and large enterprises. More than 100 network professionals provide design, engineering, implementation, software development and security expertise to the industrys leading network service providers and enterprises. NTG Claritys services are offered internationally, with offices and operations currently in Toronto and Cairo, Egypt.

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.

 
 
  For Further Information, Contact:
 
 

Ashraf Zaghloul ( Chief Executive Officer and Chairman )

 
Telephone: (905) 305-1325    |    Facsimile: (905) 752-0469
     
Email: azaghloul@ntgclarity.com   
     
Investor Enquiries: ntginvest@ntgclarity.com
 
 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

 
  
 
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