Sandvine sees Q2 net loss of $5.6M, but still "on track for growth"

WATERLOO, ON – Network management solutions provider Sandvine reported a second quarter net loss of $5.6 million revenue, as it saw revenue drop 18% from its first quarter of fiscal 2009.Revenue for the second quarter ended May 31, 2009 was $15.2 million, up 37% from the same quarter last year. The company’s cash and marketable securities totaled $90.0 million at quarter end.President and CEO Dave Caputo called the results “disappointing”, but said that year-to-date results have kept the Waterloo-based firm “on track for growth in 2009”. “As fixed line and wireless networks converge, it will be increasingly important to offer network...