WATERLOO, ON – While revenue for networks and communications services provider Sandvine decreased by $1.5 million in the second quarter of 2013 compared to Q1, results for the company’s Q2 revenue of $23.5 million, reported today, is up by 27% compared to the same period in 2012.
Net profit fell during the three months ended May 31, 2013 to $900,000, down 47% from Q1 2013’s net income of $1.7 million. It’s a substantial increase, however, from the net loss of $4.2 million for the second quarter of FY2012.
Broken down by market, wireless sales accounted for 37% of Sandvine’s Q2 revenue, with DSL also at 37%, and cable at 25%.
“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 Sandvine president and CEO Dave Caputo in a release. “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.”
Sandvine also announced today that it has received over $7 million in expansion orders from three Tier 1 operators, during the month of June.
The orders comprise more than $4.5 million in orders from a North American converged operator that Sandvine initially won as a customer in November 2012, and more than $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.
