677 0 Kommentare Sangoma Reports Q4 and Annual Results for Fiscal 2016

MARKHAM, ONTARIO--(Marketwired - Oct. 20, 2016) - 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 highlights of its fourth quarter financial results and audited consolidated financial statements for the full year of fiscal 2016, ended June 30, 2016.

For the fourth quarter of fiscal 2016, sales were a record $6.10 million, 14% higher than the same quarter last year and 15% over the immediately preceding quarter. For the full year, revenue was $21.19 million, the highest in Sangoma's history and 30% above last year.

Q4 FY2016

Q4 FY2015

Change

FY2016

FY2015

Change

Sales

$6.10 m

$5.34 m

$21.19 m

$16.32 m

Gross profit

$3.75 m

$3.57 m

$14.41 m

$10.97 m

Operating Expense

$3.83 m

$3.01 m

$14.02 m

$10.04 m

Operating Income¹

-$0.08 m

$0.56 m

$0.39 m

$0.93 m

Net income

-$0.16 m

$0.15 m

$0.11 m

$0.25 m

Net earnings per share (fully diluted)

($0.005

)

$0.005

$0.004

$0.008

EBITDA¹

$0.19 m

$0.73 m

$1.43 m

$1.64 m

¹	Operating Income and EBITDA are metrics used by the Company to monitor its performance and the definitions may be found in the accompanying MD&A posted today at http://www.sedar.com/.

"I'm very pleased this year, to see Sangoma achieve another important milestone, with revenue above $6 million this quarter and above $20 million annually, both for the first time", said Bill Wignall, President and CEO of Sangoma. "The team has worked very hard during the past few years to transition the company from a single product line to a full telecom portfolio, now available in both Cloud and Premise based solutions. Sales of SaaS or Cloud based services, along with software sales and support, now represent over 40% of revenues. This is from a standing start just a few years ago, and all while the company has more than offset the decline of legacy products to deliver substantial net growth. I'm proud that we've done so while maintaining reasonable levels of EBITDA and generating positive operating cash flow during that period. While cash flow from operations was up year over year, our profitability this quarter is admittedly lower than I'd like. However, our primary focus has been on growth and investing in the launch of Sangoma's phones and Cloud-based Hosted PBX offering, all easily self-configured and leveraging the Zero Touch Provisioning capability. I expect profitability to strengthen once again during the 2017 fiscal year, starting in Q1. Overall, I'm excited by the top line growth as well as our product portfolio, and satisfied with the $1.4m in EBITDA this year as we seek to balance continuing growth with reasonable profitability and cash flow from operations."