XBC.V now sittign at a double after my reco just a mont ago. OK, I give you another Canadian micro cap with explosive potential to do DD on:
NTG Clarity Networks Announces Record First Quarter 2015 Financial Results
Toronto, ON / TheNewswire / May 27, 2015 / NTG Clarity Networks Inc. (TSX.V:NCI),a world leader in the telecommunications OSS/BSS market, today reported record first quarter 2015financial results.
First Quarter highlights:
-71% increase in revenues to $5.0M
-working capital of $7.0M ($0.19 per share) and no long-term debt
-significant reduction in current bank debtfrom $3.52M at December 31, 2014 to $2.65M at March 31, 2015
-strong order backlog
During the first quarter of 2015, NTG Clarity generated record revenues of $5,002,161 as compared to $2,933,749 in the same period last year, an increase of 71%. The significant increase in revenues was primarily from contracts with existing clients that were expanded and renewed in 2014. For Q1, 2015, revenue was comprised of 53% professional services and 47% product related sales, compared to 79% and 21% respectively for the same period last year.
The Company reported a 257% increase in net income to $722,489 or $0.020 per share for the three months ended March 31, 2015, compared to net income of $202,502 or $0.006 per share for the comparable period last year.
As at March 31, 2015, NTG Clarity had positive working capital of $7,017,573 and no long-term debt.
During the first quarter of 2015, NTG Clarity collected a significant amount of receivables (over $5.5 Million or 49% of the $11,297,839 receivable value at December 31, 2014. Subsequent to quarter end, the Corporation has collected an additional $2.9 Million.
Looking towards the future, we remain committed to our growth strategy and continue to focus on growing organic operations, expanding our marketing reach geographically and enhancing our product offering. We are also looking to increase our reach through acquisitions and/or partnerships with global system integrators.
In an unrelated matter, the Company announced the following management will have share options issued; Kristine Lewis; 100,000 options; M. Adel Zaghloul; 100,000 options; and Ashraf Zaghloul; 100,000 options. Each option will be exercisable at a price of $0.30 per share and will vest upon issuance.
About NTG Clarity Networks Inc.
NTG Clarity Networks' vision is to be a global leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 350 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises.
