Sandvine records $6.6 million profit for Q4 2012
Michelle Clancy | 11-01-2013
Intelligent network policy control provider Sandvine has reported $27.5 million in revenue for its fourth quarter of 2012, translating to a net income of $6.5 million.
Sandvine's network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks to enable services like video that are high-consumption services with stringent quality of service requirements.
Full year results included revenue of $87.9 million and a net loss of $5 million. Wireless made up half of the revenue (48%), followed by DSL (35%) and cable (17%).
Sandvine announced more than $18 million in expansion orders from existing customers in the fourth quarter, along with nine new service provider customers.
"We are pleased with fourth quarter results as they demonstrate ongoing progress in revenue growth and profitability," said Dave Caputo, Sandvine's president and CEO. "Total revenue and wireless market revenue were at record levels, driven by large initial orders from two new Tier 1 customers and large expansion orders from major existing customers, which has been a key area of focus for us in 2012."