Q2 good and bad news Sandvine Receives Over $7 Million In Expansion Orders From Tier 1 Operators
Waterloo, ON; July 3, 2013 – Sandvine, (TSX:SVC) a leading provider of intelligent broadband network solutions for fixed and mobile operators, today announced that it has received over $7 million in expansion orders from three Tier 1 operators, all in the month of June. The orders comprise:
- Over $4.5 million in orders from a North American converged operator that Sandvine initially won as a customer in November 2012
- Over $2.5 million in follow-on orders from two European mobile properties that belong to a major multinational operator group
The expansion orders for the North America operator largely relate to additional Policy Traffic Switch (PTS) elements to support the operators’ ongoing and planned implementations on both fixed and mobile LTE networks to enable:
- Actionable business intelligence on network traffic, including the industry’s only solution to provide accurate video quality ratings
- Service creation and implementation of innovative new billing plans across access infrastructures
- Congestion management to ensure an optimal user experience at any time
- Identification and application of policy on IPv6 traffic
“We are pleased to see these important customers proceeding with their implementations,” said Tom Donnelly, COO, Sales and Global Services. “Sandvine is the only best-of-breed network policy control vendor to have developed a standards-based, end-to-end solution to seamlessly integrate traffic inspection with policy decision (PCRF) and policy enforcement (PCEF). Our customers reap the significant advantages of this architecture, including rapid implementation, reduced signaling traffic, scalability and the flexibility to support multiple policy use cases simultaneously.”
Sandvine Reports Q2 2013 Results
Waterloo, Canada; July 3, 2013 – Sandvine, (TSX:SVC) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported $23.5 million in revenue for its second quarter of 2013, non-IFRS income of $1.4 million and net income of $0.9 million. All results are reported in U.S. dollars under International Financial Reporting Standards (IFRS), unless otherwise specified.
Q2 2013 highlights:
- Revenue growth compared to Q2 2012: 27%
- Revenue by access technology market: wireless 37%; DSL 37%; cable 25%
- Revenue by geography: NA 36%; APAC 26%; EMEA 26%; CALA 12%
- Revenue by sales channel: reseller 61%; direct 39%
- Gross margin: 74%
- Cash, cash equivalents and short-term investments balance: $87.4 million
- Announced over $3 million in follow-on orders from a leading North American cable operator that has been a Sandvine customer since 2005
- Announced over $4 million in orders from a new nationwide South East Asian operator
- Won eleven new service provider customers
- Year-to-date revenue growth: 26%
“Year-to-date revenue is up more than 25% and we continue to believe that we are well-positioned for a year of strong revenue growth,” said Dave Caputo, Sandvine’s President and CEO. “While we had anticipated additional significant orders during the second quarter, some have arrived in the month of June. We are also pleased to have remained profitable in the second quarter and to have grown our cash balance again.”