WATERLOO, ON – Network management solutions provider Sandvine reported a second quarter net loss of $5.6 million revenue, as it saw revenue drop 18% from its first quarter of fiscal 2009.
Revenue for the second quarter ended May 31, 2009 was $15.2 million, up 37% from the same quarter last year. The company’s cash and marketable securities totaled $90.0 million at quarter end.
President and CEO Dave Caputo called the results “disappointing”, but said that year-to-date results have kept the Waterloo-based firm “on track for growth in 2009”.
“As fixed line and wireless networks converge, it will be increasingly important to offer network policy control solutions that add value across all types of access networks”, Caputo said in the press release announcing the financial results. “Sandvine leads the cable broadband market, while the DSL market has become our largest by customer count. We believe that this success, together with our growing strength in wireless, will position us as a leader as fixed-mobile network convergence is realized.”
Over 40% of Sandvine’s revenue came through reseller partners. In the second quarter, it saw “record revenue” from the wireless market, which for the first time was its largest source of quarterly revenue.
Sandvine’s technology is sold to cable, telecom, and wireless operators to help safe guard and improve the quality of experience on the Internet. Its gear mitigates the proliferation of malicious traffic and manages network congestion, constant problems on the Internet.
