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  NTG Clarity Networks Inc. Announces Year End 2008 Results
   
   
 

April 16, 2009. Toronto Ontario: NTG Clarity Networks Inc., (TSX VENTURE:NCI), a world leader in the telecommunications OSS market, today reported its 2008 year end results for the fiscal year ended December 31, 2008 (all figures in Canadian Dollars).

The Company reported revenues of $5,485,169 for 2008, a decrease from $6,277,197 for the same period last year. The net income increased to $539,418 in 2008 compared to a net income of $90,958 for the comparable period last year.

"We have reduced overhead and focused the business on delivery of our world leading OSS product and associated consulting services and training. During 2008, we implemented an aggressive marketing program for the Middle East that resulted in contracts with major carriers and well positioned us for this year" said Ashraf Zaghloul, Chairman and CEO.

"To build on our success, we will continue to aggressively market in the Middle East as it appears less impacted by current economic difficulties. We believe our recently announced joint venture with Al Mozoon Group is key to our success in expanding our products and services in the kingdom of Saudi Arabia and positions us into becoming a major player in the telecom sector there."

"The NTG team is committed to the objective of becoming one of the leading names in the industry and is well positioned to meet future challenges".

 
 
  Income statement highlights for the three months ended December 31, 2008 and 2007
 
     
  Dec. 31, 2008 Dec. 31, 2007
Revenue $ 5,485,169 $ 6,277,197
Cost of revenue 2,452,900 2,786,042
 
Gross profit 3,032,269 3,491,155
     
Expenses 2,492,851 3,400,197
Net Income for the period $ 539,418 $ 90,958
 
     
   
  Balance Sheet Highlights as at December 31, 2008 and December 31, 2007
 
     
  Dec. 31, 2008 Dec. 31, 2007
Cash, end of period $ 0 $ 0
 
Bank Facility 673,337 570,842
 
Shareholder’s Equity 1,597,666 1,058,248
 
Total Assets $ 3,877,181 $ 3,471,159
 
     
     
 
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About NTG Clarity

 
 

Established in 1992, NTG Clarity has been a leader in delivering network, IT and infrastructure solutions to telecommunications service providers. The Company has approximately 120 employees, of which over 100 have expertise in telecommunications and information technology. NTG Clarity's services are offered internationally, with offices and operations currently in Toronto and Cairo, Egypt.

The Company has maintained a record of consistently high performance, while establishing itself as a company with strong financial, technical and operational capabilities. NTG Clarity is recognized for its outstanding technical and project management skills, innovative use of advanced technologies, low cost operations and exceptional management capability.

 
 
 

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.

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

 
 
  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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