WATERLOO – Despite a 5% jump in revenue, Sandvine ended its first quarter of 2012 with a US$6.5 million net loss.
The network management solutions provider said Thursday that loss included a $3.7 million inventory write-down related to one of its older hardware platforms. Revenue for the three month period ended February 29, 2012 was $20.1 million, up from $19.2 million in the same period last year, while gross margin was 54%.
Over half (58%) of Sandvine’s revenues this quarter came from North America (EMEA 17%; APAC 18%; CALA 7%). Revenue by access technology market was DSL 22%; wireless 26%; cable 48%; and other 4%, while revenue by sales channel was reseller 39% and direct 61%.
"Business Intelligence was a major driver behind the multi-million dollar orders from Tier-1 U.S. cable operators in the previous two quarters”, said president and CEO Dave Caputo, in a statement. “We are focused on increasing our value to our installed base by continuing to lead the market with innovative solutions. We continue to expect revenue growth in 2012."
