Sandvine Reports Q4, Full-Year Results

Clocks up $27 million in revenues, $2 million in net income.

January 12, 2017

2 Min Read

WATERLOO, Canada -- Sandvine, (TSX:SVC) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported revenue of $27.0 million for its fourth quarter of 2016, net income of $2.0 million, or $0.02 per diluted share, and EBITDA1 of $4.7 million, or $0.03 per diluted share. The company also announced an increase in its quarterly dividend to C$0.02 per common share, or C$0.08 annualized (from C$0.0175 per common share, or C$0.07 annualized). All results are reported in U.S. dollars under International Financial Reporting Standards (IFRS), unless otherwise specified.

Sandvine’s revenue for fiscal 2016 was $120.7 million (FY 2015: $123.3 million) and EBITDA1 was $24.4 million (FY 2015: $46.0 million), or $0.17 per diluted share (FY 2015: $0.31). Fiscal 2015 EBITDA1 included $16.0 million ($0.11 per diluted share) related to the recognition of deferred tax assets as well as $2.8 million ($0.02 per diluted share) related to a one-time gain on sale of a private company investment. Sandvine’s net income for fiscal 2016 was $13.1 million, or $0.09 per diluted share.

Other Q4 2016 highlights:

  • Revenue by access technology market: wireless 64%; fixed telco 21%; fixed cable 13%; other 2%

    • Revenue by geography: EMEA 38%; NA 26%; CALA 18%; APAC 18%

    • Revenue by sales channel: reseller 56%; direct 44%

    • Cash and investments: $133.0 million

    • Customers: Won 16 new customers

      “While market conditions didn’t support revenue growth, 2016 was our fourth consecutive year of profitability. During the year, we developed innovative new functionality and products that increase the value of our solutions for customers. Also, our strong cash balance and profitability supported the acquisition of our TCP Accelerator product, the ongoing repurchase of our stock, and the introduction of our quarterly dividend, which we increased today,” said Dave Caputo, Sandvine’s President and CEO.

      Sandvine Inc.

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