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NTG Clarity Networks Inc. Announces Third Quarter 2009 Results
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November 25, 2009. 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 third quarter 2009 revenues of $1,707,231 as compared to $997,188 in the same period last year (All amounts in Canadian dollars).
The Company reported an Income from Operations for the three months ended September 30, 2009 of $391,594 compared to a loss of $(128,460) for the same period last year. This was due to increased margins on project work and reduction of the Company's overhead. The Net Income for the period was $11,752, compared to a net loss of $(40,473) for the same period last year. This was due to a loss on foreign exchange due to the weak U.S. dollar.
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Income statement highlights for the three months ended Sept. 30, 2009 and 2008 |
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Sept. 30, 2009 |
Sept. 30, 2008
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| Revenue |
$
1,707,231 |
$
997,188 |
| Cost
of revenue |
824,849 |
502,017 |
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| Gross profit |
882,382 |
495,171 |
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| Expenses |
490,788 |
623,631 |
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| Income from Operations |
391,594 |
(128,460) |
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| Provision for Bad Debt |
75,000 |
-- |
| Foreign Exchange Loss (Gain) |
304,842 |
(87,987) |
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| Net
Income (loss)
for the
period |
$
11,752 |
$
(40,473) |
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Balance Sheet Highlights as at September 30, 2009 and December 31, 2008 |
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Sept. 30, 2009 |
Dec. 31, 2008 |
| Cash,
end of
period |
$
78,410 |
$
0 |
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| Bank
Facility |
762,423 |
673,337 |
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| Shareholder’s
Equity |
1,468,993 |
1,597,666 |
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| Total
Assets |
$
4,512,992 |
$
3,877,181 |
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For
Further Information,
Contact:
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The TSX Venture Exchange
does not accept responsibility
for the adequacy or accuracy
of this release.
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