BlackBerry says it will demand an investigation by two regulators into what it says is a “false and misleading report” from a U.S. investment firm that its new Z10 handsets are being returned by customers in unusually high numbers.
It said the investment firm Detwiler Fenton refused to make its report to investors or its methodology to BlackBerry.
Sandvine reports good Q1
A Canadian maker of network policy control solutions for carriers has reported record first quarter revenue.
Waterloo, Ont.-based Sandvine Inc. said Thursday it pulled in $25 million (all figures U.S.) in the first three months of the year and a profit of $1.7 million.
“Success in securing large expansion orders from major existing customers and improved results from the EMEA(Europe and Middle East) sales region were key business drivers in the first quarter,” said CEO Dave Caputo in a statement. “Both of these factors will remain important to continued success through the remainder of 2013.”
Sandvine makes the PTS 22000 and 24000 policy traffic switches, which run its traffic management, network security, usage management and network analysis software.
The results are an improvement from a year ago, when National Bank Financial was reporting that Q1 2012 revenue of $20 million and a $6.1 million loss “disappoints again.”
This year NBF noted that the $25 million in revenue beat its prediction that Sandvine would hit $23.8 million.
Those results were helped by an arbitration award of about $3.7 million. Without the award the company would have had revenue last year of $5.6 million.
Profit for 2012 was $2.2 million compared to a loss of $1.9 million in 2011.
Route 1’s main products are MobiNet, a cloud-based identity management platform, the MobiLink Secure Gateway for enterprise data centres; MobiLink, a device-based authentication and access software; and MobiLink a remote access technology using either a USB key or an ID card reader.
Earlier this month the company said it has been granted a Canadian patent for its MobiNet system. Also this month it released MobiKey for iPad