WATERLOO, ON – Second quarter profits at Sandvine were up 34% while revenues increased 17% for the period ended May 31, 2016, the company said Thursday.
Net income increased to $4.0 million from $3.0 million in the same period last year, while revenue of $33.5 million climbed from $28.6 million year-over-year.
Broken down by access technology market, DSL wireless accounted for 68% of Sandvine’s Q2 revenue, with DSL at 16%, and cable at 15%. Revenue by sales channel was reseller 51% and direct 49%, while revenue by geography was North America (NA) 30%; Europe, the Middle East and Africa (EMEA) 29%; Caribbean and Latin America (CALA) 21% and Asia and Pacific (APAC) 20%.
Gross margin increased one percentage point to 75%, and the company said that it won 20 new customers in the period.
“We are pleased with Sandvine’s growth in the quarter, the 11% increase in revenue we’ve experienced so far this year, and the fact that we’ve added more customers to date this year than we did for all of 2015. I believe that these accomplishments reflect, in part, the investment we made last year to increase the size of our sales force,” said president and CEO Dave Caputo, in the earnings release. “Revenue remained well diversified across sales regions, was strong in the wireless market, and no customer represented more than 10% of revenue.”
