TORONTO, ONTARIO--(CCNMatthews - Nov. 21, 2006) - 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 third quarter 2006 revenues of $1,435,199, an increase of 8% from the same period last year (All amounts in Canadian dollars).
The Company continued on its profitable path by reporting a net income for the three months ended September 30, 2006 of $53,561 before foreign income taxes, compared to a net income of $56,128 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. This contributed significantly to our income in 2005 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 September 30, 2006 and 2005 Sept. 30, 2006 Sept. 30, 2005 -------------- -------------- Revenue $ 1,435,199 $ 1,324,464 Cost of revenue 722,266 651,452 -------- -------- 712,933 673,012 Expenses 659,372 616,884 ------------- ------------- Net Income for the period $ 53,561 $ 56,128 ======== ========
Balance Sheet Highlights as at September 30, 2006 and December 31, 2005 Sept. 30, 2006 December 31, 2005 -------------- ----------------- Cash, end of period $ 92,057 $ 58,955 ======== ======== Bank Overdraft - - ======== ======== Shareholder's Equity 802,776 613,265 ======== ======== Total Assets $ 1,893,756 $ 1,934,032 ======== ========
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
NTG Clarity Networks Inc.
Chief Executive Officer and Chairman
(905) 752-0469 (FAX)
NTG Clarity Networks Inc.