Virtutone Announces Earnings of $0.02 per share for period ended July 31, 2014

Sherwood Park, Alberta-- September 30, 2014 / Virtutone Networks Inc. ("Virtutone" or the "Company") (TSX Venture: VFX.V) is pleased to announce its financial results for the three and six -month period ended July 31, 2014.

Financial Highlights

Selected Consolidated Results (unaudited)

(in thousands of Canadian dollars, amounts per share excepted)	Q2 2014 $	Q2 2013 $	Six months 2014 $	Six months 2013 $
Revenue	$43,216	$8,660	$71,579	$11,858
Gross Profit	$1,578	$242	$2,530	$419
Net Income (Loss)	$625	($334)	$658	($379)
Earnings (Loss) per share	$0.02	($0.01)	$0.02	($0.01)
EBITA from Continued Operations	$892	($3)	$1,129	$21

Virtutone net revenues reached $43,216,403 for the second quarter of 2014, an increase of $34,555,976 or 399 % compared to the same period a year earlier, and an increase of $14,853,436 or 52 % compared to the first quarter of 2014.

The growth in revenues year over year is the result of focusing on the wholesale business and our ability to acquire a strong customer base in 2013. The growth of Q2 to Q1, 2014 mainly stems from Virtutone's current customer base providing more business.

"I am pleased with the progress we made during the second quarter, which has resulted in significant growth in our revenue, gross profit, and income from continuing operations says Mr. Bill Woods, Chief Financial Officer. With a strong management team in place, the company continues the review of its internal process identifying areas that enables the company to reduce it costs.

For further information please contact Bill Woods at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of wholesale telecommunication services, serving as an intermediary between large carriers and local telephone companies in many countries worldwide. Over the years, Virtutone has built lasting and secure business relationships with a number of key strategic partners.

We pride ourselves in providing unsurpassed service to customers and suppliers worldwide. Our customers choose us for three primary reasons: quality voice services, competitive rates, and superior customer service.

Additional information can be found on the company's website at: www.virtutone.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Virtutone Networks Inc.

Virtutone Networks Inc ( VFX )

Virtutone Announces Earnings of $0.02 per share for period ended July 31, 2014