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Sangoma Technologies fiscal Q3 profit falls YOY

Sangoma Technologies Corp. said its normalized net income for the fiscal third quarter ended March 31 was C$93,540, a decrease of 52.6% from C$197,420 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.8% from 4.1% in the year-earlier period.

Total revenue increased 10.6% year over year to C$5.3 million from C$4.8 million, and total operating expenses rose 9.6% on an annual basis to C$5.0 million from C$4.6 million.

Reported net income declined 62.5% from the prior-year period to C$97,440, or 0 cents per share, from C$259,840, or 1 cents per share.