Sangoma Releases Third Quarter 2008-2009 Results

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Sangoma Releases Third Quarter 2008-2009 Results Sangoma Releases Third Quarter 2008-2009 ResultsSangoma Releases Third Quarter 2008-2009 Results

11 May 2009

MARKHAM, ONTARIO--(Marketwire - May 11, 2009) - Sangoma Technologies Corporation (TSX VENTURE:STC), today released highlights of its unaudited financial results for the quarter ended March 31, 2009.

Sales were $2.76 million for the quarter ended March 31, 2009 as compared to $3.21 million for the quarter ended March 31, 2008, a decrease of 14%, but 6% higher than sales during the previous quarter ended December 31, 2008. Net income after provision for taxes was $0.70 million for the quarter ended March 31, 2009, 28% lower than net income for the corresponding quarter in 2008 ($0.96 million).

The decline in sales relative to sales in the quarter ended March 31, 2008 occurred worldwide, except for sales in Canada, which increased.

The Corporation completed the financial quarter ended March 31, 2009 with working capital of $7.63 million, as compared to $8.96 million on June 30, 2008, a decrease of 15%. The decrease was due to the purchase of Paraxip Technologies Inc. of Montreal in July 2008. Cash flow was positive $0.35 million during the quarter ended March 31, 2009.

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