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 announced it has received over $2-million in network policy control orders from one of the top 10 telecom providers in the United States. It said its selection was based on its “proven congestion and policy management capabilities.”
"A provider of telephone and broadband services, this telecom provider is committed to delivering a consistently high quality user experience across the full range of their products and services," said Tom Donnelly, COO, Sales & Global Services, Sandvine. "Sandvine's access agnostic solutions for fixed and mobile operators make an ideal solution for this type of network."
"We continue to believe that we will soon be able to win some initial business related to opportunities with Tier 1 operators, globally, and conclude a global supply arrangement for a major multinational operator customer," said Dave Caputo, Sandvine's President and CEO.
