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 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. Income statement highlights for the three months ended ------------------------------------------------------ Sept. 30, 2009 and 2008 -----------------------
Sept. 30, 2009 Sept. 30, 2008
----------------- ----------------- Revenue $ 1,707,231 $ 997,188 Cost of Revenue 824,849 502,017
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----------------- ----------------- Gross Profit 882,382 495,171 Expenses 490,788 623,631
----------------- ----------------- 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)
----------------- ----------------- Net Income for the period $ 11,752 $ (40,473)
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----------------- ----------------- Balance Sheet Highlights as at ------------------------------ September 30, 2009 and December 31, 2008 ----------------------------------------
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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