NTG Clarity Networks Inc.

NTG Clarity Networks Inc.

May 30, 2012 10:43 ET

NTG Clarity Networks Inc. Announces First Quarter 2012 Results

TORONTO, ONTARIO--(Marketwire - May 30, 2012) - NTG Clarity Networks Inc., (TSX VENTURE:NCI), a world leader in the telecommunications OSS market, today reported its first quarter 2012 revenues of $1,060,471 as compared to $1,764,760 in the same period last year (All amounts in Canadian dollars). This decrease in revenue was due to the ending of completed projects and the ramping up of new projects.

The Company reported a net loss for the three months ended March 31, 2012 of ($59,430), compared to a net income of $277,886 for the comparable period last year. The loss was due to reduced revenues while the Company maintained its skilled staff for new projects.

As at March 31, 2012, NTG Clarity had positive working capital of $672,283 and long-term debt of only $147,232.

Income statement highlights for the three months ended March 31, 2012 and 2011
Mar. 31, 2012 Mar. 31, 2011
Revenue $ 1,060,471 $ 1,764,760
Cost of revenue 651,081 1,060,822
Gross Profit 409,390 703,938
Expenses 430,173 348,398
Foreign exchange loss (gain) 38,647 77,654
Net Income for the period $ (59,430) $ 277,886
Balance Sheet highlights as at March 31, 2012 and December 31, 2011
Mar. 31, 2012 Dec. 31, 2011
Current Assets $ 3,823,597 $ 3,390,605
Current Liabilities $ 3,151,314 $ 2,561,419
Long-Term Debt $ 147,232 $ 167,978
Shareholder's Equity $ 2,641,043 $ 2,688,819


NTG Clarity Networks' vision is to be a global leader in providing networking solutions. Established in 1992, NTG Clarity is a leader in Canada in delivering networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 150 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and 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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