Sandvine Reports Q1 2017 Results

Sandvine (TSX:SVC) has announced revenue of $33.3 million for its first quarter of 2017 and net income of $4.1 million.
As quoted in the press release:

Other Q1 2017 highlights:

• Revenue by access technology market: wireless 55%; fixed telco 32%; fixed cable 12%; other 1%
• Revenue by geography: APAC 37%; EMEA 34%; NA 20%; CALA 9%
• Revenue by sales channel: reseller 66%; direct 34%
• Cash and investments: $117.2 million
• Customers: Won 8 new customers

“Overall, I’m pleased with the start to the year, with strong revenue contribution from the wireless and fixed telco markets.  However, the cable market continues to lag as it experiences the ongoing effects of the consolidation activity that took place last year,” said Dave Caputo, Sandvine’s President and CEO.
Since the last quarterly results announcement, Sandvine:

• Announced that the company received orders totaling over $3 million from a Tier 1, multinational, converged mobile/fixed communications service provider (CSP) group, headquartered in Sandvine’s CALA sales region. The orders were received in Sandvine’s second quarter.
• Announced Globe Telecom as a new tier-1 customer. Globe serves more than 55 million customers and operates one of the largest, most technologically-advanced, and robust mobile, fixed line and broadband networks in the Philippines.
• Was recognized by Great Places to Work Canada as being one of the Best Workplaces in Canada for Women.
• Launched mobile data management features for its Cloud Services Policy Controller product. These new features help the business customers of communications service providers better understand, manage, and secure their employees’ domestic and international mobile data usage.
• Announced that EANTC has independently validated important functional and performance aspects of Sandvine’s virtualized network policy control solutions, including the company’s new Traffic Steering Engine product.
• Announced that the Sandvine Virtual Series products are now certified for use on Red Hat OpenStack Platform 8.0.

Click here to read the full press release.