Net Income up 34% for Q2 :)Sandvines second quarter net income up 34 per cent Waterloo Region Record By Record staff WATERLOO Sandvine released its second-quarter results on Thursday, showing strong year-over-year financial gains. The Waterloo-based firm provides hardware and software for managing Internet networks. Sandvine reported second-quarter net income of $4 million US on revenues of $33.5 million US. In the same period last year, it reported net income of $3 million US on revenues of $28.6 million US. Year-to-year, that represents an increase of 34 per cent in net income and 17 per cent in revenue. The company reports its results in American dollars. "We are pleased with Sandvine's growth in the quarter, the 11-per-cent increase in revenue we've experienced so far this year, and the fact that we've added more customers to date this year than we did for all of 2015," president and chief executive officer Dave Caputo said in a release. "I believe that these accomplishments reflect, in part, the investment we made last year to increase the size of our sales force." A quarterly dividend of 1.75 cents per common share will be paid Aug. 8 to shareholders of record as of July 20. Quarterly dividends were first introduced earlier this year. Highlights in the second quarter included a $4-million order from a North American satellite operator and $3 million in expansion orders from a wireless operator group in the Caribbean and Latin American region.