NTG Clarity Networks Inc.
TSX VENTURE : NCI

NTG Clarity Networks Inc.

August 26, 2009 12:21 ET

CORRECTION FROM SOURCE: NTG Clarity Networks Inc. Announces Second Quarter 2009 Results

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2009) - In the release issued on Aug. 25, 2009 at 16:01 ET, the incorrect three months ended date was referenced in the second paragraph, first line. The date read "for the three months ended March 31, 2009" but should have read "for the three months ended June 30, 2009". The complete and correct release follows.

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 second quarter 2009 revenues of $1,062,515 as compared to $1,336,496 in the same period last year (All amounts in Canadian dollars).

The Company reported a net loss for the three months ended June 30, 2009 of $(160,269), compared to a net income of $13,194 for the comparable period last year. This was due to the weakening U.S. dollar. In this quarter results, management has included a specific allowance for provision of bad debts of $75,000.



Income statement highlights for the three months
------------------------------------------------
ended June 30, 2009 and 2008
-----------------------------
June 30, 2009 June 30, 2008
--------------- ---------------

Revenue $ 1,062,515 $ 1,336,496
Cost of revenue 560,539 771,544
--------------- ---------------

Gross Profit 501,976 564,952

Expenses 355,106 537,074

Foreign Exchange Loss 307,139 14,684
--------------- ---------------

Net Income for the period $ (160,269) $ 13,194
--------------- ---------------
--------------- ---------------



Balance Sheet Highlights as at June 30, 2009 and December 31, 2008
------------------------------------------------------------------

June 30, 2009 Dec. 31, 2008
--------------- ---------------

Cash, end of period $ 106,213 $ 0
--------------- ---------------
--------------- ---------------

Bank Facility 740,309 673,337
--------------- ---------------
--------------- ---------------

Shareholder's Equity 1,457,241 1,597,666
--------------- ---------------
--------------- ---------------

Total Assets $ 4,005,352 $ 3,877,181
--------------- ---------------
--------------- ---------------


In matters unrelated, the Company announced that the following Directors have been granted stock options to replace expired options of the same amount: Ashraf Zaghloul (200,000), Adel Zaghloul (132,500), Sinclair Stevens (100,000), Zafar Farooqui (100,000) and Kristine Lewis (100,000). Each option is exercisable at a price of $0.10 per share.

ABOUT NTG CLARITY NETWORKS INC

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.

FORWARD LOOKING INFORMATION

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.

Contact Information