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Sandvine rises after reporting tenth consecutive profitable quarter

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Cormark analyst Richard Tse says that, following a year in which it struggled though partner changes and product revisions, Sandvine is finally hitting its stride.

Shares of Sandvine (Sandvine Stock Quote, Chart, News: TSX:SVC) are up today after the company reported better than expected first quarter numbers.

Sandvine earned (U.S.) $10.2-million on revenue of $32.4-million in its Q1, 2015, up from $7.5-million in earnings on a $31.5-million topline in the same period a year prior.

“I’m pleased to have a strong start to the year. Revenue for the quarter was very broad based and as a result customer concentration was near an all-time low,” said CEO Dave Caputo. “This is Sandvine’s 10th consecutive quarter of profitability and year-over-year revenue growth. Our growth once again led industry analysts to name Sandvine the market share leader in 2014. Our profitability and cash generation also continue to be a big differentiator in our market.”

Sandvine management said quarterly highlights included the launch of a product that measures web browsing quality-of-experience, the launch of an updated service delivery engine, and being named by ABI research as a market leader.

At press time, shares of SVC were up 5.5% to $3.81.

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About The Author /

Nick Waddell
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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