WATERLOO, ON – Network management solutions provider Sandvine saw second quarter profits bounce back to the black, as it reported net income of $63,000.
Revenue increased 25% to $24 million for its second quarter of 2011 ended May 31st, up from $19.2 million in the same period last year. Sandvine said that it earned “record” wireless revenue of $11.1 million, representing 46% of its quarterly revenue (DSL: 36%, Cable: 16%).
"We won seven new wireless customers in the quarter," said president and CEO Dave Caputo, in a statement. "We have built our base of over 50 wireless service provider customers largely over the last two and a half years and those efforts are paying off with new wins and several significant follow-on orders."
Approximately 52% of Sandvine’s total revenues this quarter came from outside North America (EMEA: 27%; APAC: 16%; CALA: 9%), and 49% of revenue was earned through its reseller partners.
