NTG Clarity Networks Inc.

NTG Clarity Networks Inc.

August 26, 2011 16:06 ET

NTG Clarity Networks Inc. Announces Second Quarter 2011 Results

TORONTO, ONTARIO--(Marketwire - Aug. 26, 2011) - NTG Clarity Networks Inc., (TSX VENTURE:NCI), a world leader in the telecommunications OSS market, today reported its second quarter 2011 revenues of $1,464,371 as compared to $1,737,730 in the same period last year (All amounts in Canadian dollars).

The Company reported a net income for the three months ended June 30, 2011 of $163,387, compared to a net income of $105,051 for the comparable period last year.

Consolidated interim financial statements for the quarter ending June 30, 2011 have been prepared in accordance with IAS34. See Q2 2011 MD&A and Q2 consolidated interim financial statements for details.

Income statement highlights for the three months ended June 30, 2011 and 2010
Jun. 30, 2011 Jun. 30, 2010
Revenue $ 1,464,371 $ 1,737,730
Cost of revenue 955,259 1,227,950
Gross Profit 509,112 509,780
Expenses 412,722 507,004
Foreign exchange loss (gain) (66,997 ) (102,275 )
Net Income (Loss) for the period $ 163,387 $ 105,051
Balance Sheet Highlights as at June 30, 2011 and December 31, 2010
Jun. 30, 2011 Dec. 31, 2010
Current Assets $ 4,471,817 $ 3,954,896
Current Liabilities $ 2,823,281 $ 2,083,137
Long-Term Debt $ 223,518 $ 346,959
Shareholder's Equity $ 9,910,033 $ 9,439,015

In an unrelated matter, for the $2.75M USD LOI announced in third quarter 2010, and after almost one year of effort, NTG has stopped working on this project. We are currently negotiating compensation for the work completed to date.


NTG Clarity Networks' vision is to be a global leader in providing networking solutions. Established in 1992, NTG is a leader in Canada in delivering networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 200 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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