Sandvine sees Q3 profits tumble 34%

WATERLOO, ON – Despite an uptick in revenue, net income at Sandvine plunged 34% for the third quarter ended August 31, 2014.Net income fell to $3.1 million from $4.7 million in the same period last year, while non-IFRS fell 35% from $5.1 million to $3.3 million. Revenue grew 3% to $27.9 million from $27.2 million year-over-year.Broken down by market, wireless sales accounted for 49% of Sandvine’s Q3 revenue, with DSL at 35%, and cable at 15%. Revenue by sales channel was reseller 68% and direct 32%, while revenue by geography was Europe, the Middle East and Africa (EMEA) 43%; North...