NTG Clarity Networks Inc. , which makes operational support system software for telecom serivce providers and enterprises, says it scored a $116,706 profit for its third quarter — almost half the company's net income for the year. The Toronto-based company said that as of Sept. 30 total net income was $281,377. By comparision, it had lost just over $128,600 for the same period a year ago.
Third quarter revenue was $1.598 million, compared to $1.7 million in the same period in 2009. For the first nine months of the year NTG pulled in $4.6 million compared to just under $4.5 million for the first nine months of 2009. During that period a year ago net income was a mere $11,752.
“As we look ahead, we are intent on increasing our market share in the telecom sector, expanding the software solutions and wireless areas of the business, and making further progress in the Middle East which is an area of growth with large infrastructure projects,” chairman and CEO Ashraf Zaghloul said in a news release. “We continue to aggressively market our products and services in the international marketplace, which we view as an area of substantial growth due to the deregulation of the telecommunication sector and the licensing of new mobile operators.”
Last week the company said it has been chosen by an unnamed telecom equipment provider to help supply an unnamed WiMAX provider in the Middle East. The integration work is expected to pull in $260,000.
The company's products include Network Telecom System OSS, Smart2Go (an e-business delivery platform) and Virtual Nervous System (an enterprise Web portal for managing back end systems).