NTG Clarity Networks Inc.
TSX VENTURE : NCI

NTG Clarity Networks Inc.

April 24, 2008 17:23 ET

NTG Clarity Networks Inc. Announces Year End 2007 Results

TORONTO, ONTARIO--(Marketwire - April 24, 2008) - NTG Clarity Networks Inc., (TSX VENTURE:NCI), a world leader in the telecommunications OSS market, today reported its 2007 year end results for the fiscal year ended December 31, 2007 (all figures in Canadian Dollars).

The Company reported revenues of $6,277,197 for 2007, an increase from $5,269,910 for the same period last year. The net income decreased to $90,958 in 2007 compared to a net income of $194,810 for the comparable period last year.

We continue to restructure our business to focus on the delivery of a world leading OSS product and the associated consulting services and training to implement the product. During 2007, an aggressive marketing program was implemented and we are confident that we are well positioned for the coming year. During the past year we managed to expand our product and services sales and we will continue to aggressively market our product and services in the international marketplace, which we view as an area of substantial growth due to deregulation of the telecommunication sector and the licensing of new mobile operators.

"The NTG team is committed to the objective of becoming one of the leading names in the industry and is well positioned to meet future challenges", said Ashraf Zaghloul, Chairman and CEO.



Income statement highlights for the year ended December 31, 2007 and 2006

December 31, 2007 December 31, 2006
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Revenue $ 6,277,197 $ 5,269,910
Cost of revenue 2,786,042 2,732,630
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Gross Profit 3,491,155 2,537,280

Expenses 2,400,197 2,342,470
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Net Income for the period $ 90,958 $ 194,810



Balance Sheet Highlights as at December 31, 2007

December 31, 2007 December 31, 2006
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Cash, end of year $ 0 $ 51,246
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Bank Facility 570,842 273,184
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Shareholder's Equity 1,058,248 855,414
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Total Assets 3,471,159 2,223,490
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In matters unrelated, the Company announced that Mohsen Rifaat will not be standing for reelection to the Board of Directors at the Annual General Meeting in June 2008 and Zafar Farooqui, a Director, has been granted 100,000 stock options to replace expired options of the same amount. Each option is exercisable at a price of $0.10 per share.

ABOUT NTG CLARITY NETWORKS INC

Established in 1992, NTG Clarity has been a leader in delivering network, IT and infrastructure solutions to telecommunications service providers. The Company has approximately 120 employees, of which over 100 have expertise in telecommunications and information technology. NTG Clarity's services are offered internationally, with offices and operations currently in Toronto and Cairo, Egypt.

The company has maintained a record of consistently high performance, while establishing itself as a company with strong financial, technical and operational capabilities. NTG Clarity is recognized for its outstanding technical and project management skills, innovative use of advanced technologies, low cost operations and exceptional management capability.

FORWARD LOOKING INFORMATION

NTG Clarity's mission is to be the worlds' leading networking solutions company. Established in 1992, NTG Clarity is a Canadian leader in delivering networking, IT and network-enabled application software solutions to network service providers and large enterprises. More than 100 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises. NTG Clarity's services are offered internationally, with offices and operations currently in Toronto and Cairo, Egypt.

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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