Sandvine still in the red

Published: January 14th, 2010
Sandvine Corp., a maker of deep packet inspection and traffic management appliances for service providers, suffered a net loss of $19.5 million for fiscal 2009, almost exactly what it lost the year before. The Waterloo, Ont., company said Thursday that it had fourth quarter revenue of $19 million, up from $16 million in the quarter before. However; Q4 ended with a GAAP net loss as a result of an increase of $1.7 million in non-cash stock-based compensation expense. Overall revenue in fiscal 2009 was $68.8 millon, compared to $51.1 million the year before.
“Sandvine’s annual revenue from mobile service providers was over four times higher than in fiscal 2008,” company CEO Dave Caputo said in a news release. “Our revenue from our AsiaPacific sales region almost tripled over the previous year, and revenue from our core North American region also grew.”
The company has over 180 service provider customers in over 70 countries. In Q4 Sandvine won eight new customers, it said in a news release: six wireless operators and two DSL service providers. Three of these wins were in North America, while another three were in the Asia-Pacific region.

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