Sandvine reports record 25% growth for Q1 revenue

WATERLOO – Networks and communications services provider Sandvine yesterday reported $25 million in revenue for its first quarter of 2013, non-IFRS income of $2.2 million and net income of $1.7 million. "The first quarter demonstrated continued progress. Revenue was up 25% from the first quarter of 2012, we were profitable, and we grew our cash balance," said Dave Caputo, Sandvine's president and CEO, in a release. Caputo said key drivers for the record first quarter revenue were the improved sales in Europe, the Middle East and Africa, as well as a $6.5 million expansion order from one of Sandvine’s top...