Category: Uncategorized
May 13, 2003

News Release: Record Growth in Revenues and Income for the Third Quarter

Sangoma Technologies Corporation, formerly sangoma.com, Inc., an award-winning Wide Area Network (WAN) communication hardware and software manufacturer to-day reported financial results for the quarter ended March 31, 2003.

Revenue in the third quarter 2002-2003 was $902,402 Cdn, compared to $479,714 Cdn in the third quarter 2001-2002. Net income was $249,012 Cdn ($0.0092 per share) for the quarter as compared to $26,521 Cdn ($0.0008) per share for the quarter ended March 31, 2002. Cash flow from operations was $324,771 ($0.012 per share) as compared to $115,370 ($0.0043 per share) for the third quarter of 2001-2002.

'We are continuing to see a significant increase in revenue and profit compared to last year,'said David Mandelstam, CEO of Sangoma Technologies. 'There is increased demand across our entire product line from all regions as design wins from previous quarters begin to generate sales. We continue to implement product development and marketing strategies through increased sales efforts which will drive revenues in future quarters.'

About Sangoma Technologies Corporation: Founded in 1984, Sangoma develops and manufactures wide area network (WAN) communication hardware and software products, with an emphasis on the PC platform. The communications solutions and routing products support all popular WAN networks, line protocols and all standard PC operating systems and platforms including Linux, Windows, FreeBSD, Sun Solaris, NetWare and DOS. Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSXV: STC). For information please visit www.sangoma.com or call 1-800-388-2475.

CONTACT: TEL: (905) 709-1207 Diem Tari or Neville Pokroy,

Stantech Marketing

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