Optimism from Bridgewater

Published: July 30th, 2009

The recession hasn’t hurt an Ottawa maker of personalizationsoftware for mobile operators too badly. Bridgewater Systems reportedThursday Q2 revenues of $16.1 million, compared with $11.8 million forthe same period last year. The year-over-year increase reflects licenserevenue from a significant project, the company said, as well asongoing revenue from the delivery of its WideSpan system to U.S.operators Verizon Wireless – a customer that accounts for 49 per centof its revenues - and Cricket Communications. Net earnings for thethree months ended June 30 were $4.1 million.

“The global growth in mobile data services is driving demand for ourtechnology, and we are seeing this reflected in a high level of newbusiness activity,” said CEO Ed Ogonek in a press release. As a resultof the good news the company has updated its 2009 revenue forecast tobetween $58 million and $62 million from $54-$58 million.

Bridgewater’s applications gives operators a view of subscribers’service entitlements, devices and networks being used, billingprofiles, and preferences based on location or time of day to helpthem  launch and monetize new services.

Meanwhile Vancouver’s Sierra Wireless, which makeswireless USB modems and Aircards used by mobile subcribers, repored anet loss for its second quarter of $5.9 million on revenue of $135million. The quarter included the completion of its acquisition ofFrench wireless microprocessor manufacturer Wavecom. The company hasbeen undergoing cost-cutting and restructuring to get back in the black.



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