Sangoma Reports Q4 and Annual Results for Fiscal 2016 - Seite 2

Gross profit was $3.75 million for the quarter and $14.41 million for the year. Gross margin at 68% for the year was in line with that for fiscal 2015.

Operating expenses were $3.83 million for the quarter and $14.02 million annually, up 27% and 40% respectively from fiscal 2015. These higher expenses result primarily from the foreign exchange impact of the stronger US dollar, the staff and other spending in the companies acquired in January 2015, that were part of Sangoma for the full 12 months of fiscal 2016 versus just 6 months in fiscal 2015, and the costs associated with the launch of Sangoma's IP phones and Cloud PBXact services.

EBITDA was $1.43 million for fiscal 2016, down from $1.64 million in the prior year, and operating income was $0.39 million, down from the $0.93 million in fiscal 2015, primarily due to increased operating expenses described above.

Net income for the year ended June 30, 2016 was $0.11 million ($0.004 per share fully diluted), compared to net income of $0.25 million ($0.008 per share fully diluted) for the year ended June 30, 2015.

Sangoma finished the year with a cash balance of $2.09 million, down slightly from the $2.52 million at the end of fiscal 2015 due to the payout of contingent consideration for the acquisitions. Cash flow from operations of $1.44 million this year was higher than the $0.86 million generated in fiscal 2015.

President and CEO, Bill Wignall, and CFO, David Moore will host a conference call on Tuesday October 25, 2016 at 11a.m. Eastern Daylight Time to discuss the quarterly results. The dial-in number for the call is 1-800-319-4610 (International 1-604-638-5340). Investors are requested to dial in 5 to 10 minutes before the scheduled start time and ask to join the Sangoma call.

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, PBX, phone 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.