NTG Clarity Networks Provides Shareholder Update
14 November 2013 - 2:27PM
Access Wire
November 14, 2013. Toronto
Ontario: NTG Clarity Networks
Inc., (TSX VENTURE:NCI), a world leader in the telecommunications
OSS/BSS market, is pleased to provide an update to
shareholders.
Management is not aware of any reason for the recent decline in
share value. The Company continues to work and deliver on projects
in-hand and has announced more than $9.1 million in new orders
since May 2013. Management is pursuing new contracts on a regular
basis and will announce these orders as they are received.
As
earlier announced, NTG Clarity has experienced a 102% increase in
revenues during the first nine months of 2013 with net income
growth of 458% to $1.8 million or $0.06 per share. The Company's
earnings for the third quarter of 2013 alone were $784,669 or
$0.025 per share. Management is confident that the Company's strong
growth rates in both revenues and earnings will continue into the
new year. As at September 30, 2013 NTG had a stable balance sheet
with positive working capital of $3.9 million.
One of
the main reasons for the strong growth in 2013 to-date has been a
renewed international focus on state-of-the-art technology and
networking capabilities. Mobile applications have been the fastest
growing technology trend with NTG's mobile application development
being increasingly chosen as a leading product in these
markets.
ABOUT NTG CLARITY NETWORKS INC
NTG Clarity Networks' vision is to
be a global leader in providing networking solutions. Established
in 1992, NTG Clarity has delivered networking, IT and network
enabled application software solutions to network service providers
and large enterprises in Canada. More than 150 network
professionals provide design, engineering, implementation, software
development and security expertise to the industry's leading
network service providers and 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.
FOR FURTHER INFORMATION
Doren Quinton,
President QIS Capital
Ph: 250-377-1182
Fax: 250-377-1183
Email: info@smallcaps.ca
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