NTG Clarity Networks Inc.

NTG Clarity Networks Inc.

November 19, 2008 16:44 ET

NTG Clarity Networks Inc. Announces Third Quarter 2008 Results

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2008) - 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 2008 revenues of $997,188 compared to $1,534,633 for the same period last year (All amounts in Canadian dollars).

The Company reported a net loss for the three months ended September 30, 2008 of $40,473, compared to a net income of $95,961 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 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,
2008 and 2007

Sept. 30, 2008 Sept. 30, 2007
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Revenue $ 997,188 $ 1,534,633
Cost of revenue 502,017 779,984
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Gross Profit 495,171 754,649

Expenses 623,631 556,824
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Net Income(Loss) for the period $ (40,473) $ 95,961
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Balance Sheet Highlights as at September 30, 2008 and December 31, 2007

Sept. 30, 2008 Dec. 31, 2007
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Cash, end of period $ 0 $ 0
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Bank Facility 732,496 570,842
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Shareholder's Equity 1,114,245 1,058,248
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Total Assets $ 3,950,365 $ 3,471,159
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In an unrelated matter, the Company announced the Board has appointed Kristine Lewis to the position of President, replacing William Catalano who resigned earlier this month. Ms. Lewis has been on the Board of Directors of NTG since 2004 and has been involved in the management of NTG since its foundation. Ms. Lewis has been issued 200,000 stock options. Each option is exercisable at a price of $0.10 per share.


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.


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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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