Sangoma Announces Preliminary Revenue for Its Fiscal Fourth Quarter
22 Luglio 2013 - 11:00PM
Marketwired Canada
Sangoma Technologies Corporation (TSX VENTURE:STC), a leading provider of
hardware and software components that enable or enhance IP Communications
Systems for both voice and data, today announced preliminary unaudited revenue
for the fourth quarter of fiscal 2013 ended June 30, 2013.
Sales for the fourth quarter were a record $4.0 million, an increase of 25% from
the immediately preceding third quarter of fiscal 2013 and an increase of 8%
over the same quarter of fiscal 2012.
"I am very pleased that we have closed the year so strongly," said Bill Wignall,
President and CEO of Sangoma. "The entire team drove extremely hard to achieve
this quarterly revenue milestone of $4 million, something Sangoma has sought for
many years, so this is an excellent way to close off a challenging year. I
remain encouraged with the uptake of our new products and I'm similarly pleased
with the stronger sales of our legacy products this quarter as well. We know
that Sangoma's fiscal first quarter revenue is typically lower than the prior
year's fourth quarter, due to the seasonality of a weak summer period. I
therefore expect our first quarter sales to be well below this $4 million level,
but everyone at Sangoma is very focused on the objective of delivering growth
above last year's first quarter sales level."
David Moore, Sangoma's Chief Financial Officer noted that "many of our
shareholders have been seeking information about our fourth quarter, and in fact
we received questions about this on our last quarterly shareholder call. The
release of our preliminary revenue results now, before the full audit cycle is
completed, is a way for us to further accelerate disclosure and increase
transparency. We will do this only for fourth quarters, when the release cycle
is longer. Sangoma will of course announce its full annual financial results
after completion of the annual audit, and the full release will be followed
shortly thereafter by a conference call to discuss the results with investors."
At the end of the fiscal fourth quarter, the company undertook a modest cost
reduction to better align its costs with revenue. The board of directors
continues to monitor Sangoma's share price which it believes to be undervalued,
which under IFRS, will necessitate consideration of possible balance sheet
impairment issues during the annual audit cycle.
About Sangoma Technologies Corporation
Sangoma is a leading provider of hardware and software components that enable or
enhance IP Communications Systems for both telecom and datacom applications.
Sangoma's data boards, voice boards, gateways and connectivity software are used
in leading PBX, IVR, contact center and data-communication applications
worldwide. The product line includes both hardware and software components that
offer a comprehensive toolset for deploying cost-effective, powerful, and
flexible communication solutions.
Founded in 1984, Sangoma Technologies Corporation is publicly traded on the TSX
Venture Exchange (TSX VENTURE:STC). Additional information on Sangoma can be
found at: www.sangoma.com.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements
regarding the future success of our business, development strategies and future
opportunities.
Forward-looking statements include, but are not limited to, statements and
objectives concerning estimates of expected expenditures, statements relating to
expected future production and cash flows, and other statements which are not
historical facts. When used in this document, the words such as "could", "plan",
"estimate", "expect", "intend", "may", "potential", "should" and similar
expressions indicate forward-looking statements.
Although Sangoma believes that its expectations reflected in these
forward-looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Forward-looking statements are
based on the opinions and estimates of management at the date that the
statements are made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially
from those projected in forward-looking statements. Sangoma undertakes no
obligation to update forward-looking statements if circumstances or management's
estimates or opinions should change except as required by law.
Readers are cautioned not to place undue reliance on forward-looking statements,
as there can be no assurance that the plans, intentions or expectations upon
which they are based will occur. By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the predictions,
forecasts, projections and other events contemplated by the forward-looking
statements will not occur. Although Sangoma believes that the expectations
represented by such forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct as these expectations
are inherently subject to business, economic and competitive uncertainties and
contingencies. Some of the risks and other factors which could cause results to
differ materially from those expressed in the forward-looking statements
contained in the management's discussion and analysis include, but are not
limited to changes in exchange rate between the Canadian Dollar and other
currencies, changes in technology, changes in the business climate, changes in
the regulatory environment, the decline in the importance of the PSTN and new
competitive pressures. The forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sangoma Technologies Corporation
David Moore
Chief Financial Officer
(905) 474-1990 Ext. 107
dsmoore@sangoma.com
www.sangoma.com
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