RE:Quarterly Dividend!Earnings: Sandvine Reports Q4 2015 Results
Waterloo, Canada; January 7, 2016 – Sandvine, (TSX:SVC) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported revenue of $35.0 million for its fourth quarter of 2015, which is in line with the Company’s estimate published on December 10. Net income for the quarter was $25.2 million, or $0.17 per diluted share, of which $17.6 million, or $0.12 per diluted share, related to the recognition of deferred tax assets. All results are reported in U.S. dollars under International Financial Reporting Standards (IFRS), unless otherwise specified.
Sandvine’s annual revenue for fiscal 2015 ($123.3 million) was level with 2014 ($123.4 million) and annual net income grew 80% to $41.3 million (FY 2014: $23.0 million), or $0.27 per diluted share (FY 2014: $0.15). Fiscal 2015 net income included $17.6 million ($0.12 per diluted share) related to the recognition of deferred tax assets.