WATERLOO, ON. -- Sandvine, (TSX:SVC) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported revenue of $34.2 million for its fourth quarter of 2014 and net income of $8.1 million. All results are reported in U.S. dollars under International Financial Reporting Standards (IFRS), unless otherwise specified.
Sandvine’s annual revenue for fiscal 2014 increased by 16% to $123.4 million (FY 2013: $106.5 million) and annual net income grew 78% to $23.0 million (FY 2013: $12.9 million), or $0.15 per diluted share.
Other Q4 2014 results highlights:
“This was an excellent year for Sandvine. We finished 2014 with record quarterly revenue. I am pleased that we managed to improve profitability for the year while continuing to invest in our business and launch industry-leading new products like the PTS 32000,” said Dave Caputo, Sandvine’s President and CEO. “We won 36 new customers in 2014, saw large existing customers expand their implementations, and continued to help operators launch some of the world’s most innovative new service tiers – a trend we expect will continue in 2015.” Sandvine Inc.