Sandvine reports Q2 loss, but announces $2 million in new orders

WATERLOO - Network technology company Sandvine Corp. has reported a $4.2-million (U.S.) loss in its second quarter, but provided a positive outlook based in part on $2 million in new orders from a top U.S. telecom company. Sandvine’s revenue for the three months ended May 31 fell to $18.6 million from $24.5 million in 2011, a 24% decrease. It added that its second quarter revenues were consistent with the estimate it provided in June. Sandvine indicated last month that the revenue shortfall was due to delays in negotiating a contract with Spain’s Telefonica. Shortly after the earnings statement, Sandvine also...