Sandvine

[RangersFan]

Sandvine Secures Funding Towards Innovative Research And Development Activities
http://www.sandvine.com/news/pr_detail.asp?ID=255

Waterloo, Canada; March 16, 2010 – Sandvine, (TSX:SVC; AIM:SAND) a leading provider of intelligent broadband network solutions for cable, DSL, FTTx, fixed wireless and mobile operators, today announced that it has entered into an agreement with the Province of Ontario in respect of certain innovative research and development activities.

Under the agreement, Sandvine will be eligible to receive funding equal to 11% of related, eligible costs incurred in Ontario from February 2009 to February 2014 to a maximum of $18.7 million. In addition, at the end of the agreement, the company will be entitled to receive up to an additional 4% of such costs (to a maximum of $6.8 million) if certain Ontario-based job targets have been met.

“The provincial government has demonstrated a real commitment to Ontario as a technology leadership centre, both within Canada and globally,” said Dave Caputo, Sandvine’s president and chief executive officer. “This funding gives Sandvine a tremendous opportunity to continue to advance our research and development activities right here at home.”


Sandvine lands big funding commitment from Ontario government
By Rose Simone, Record staff
March 16, 2010 - http://news.therecord.com/News/Local/article/685307

WATERLOO — Sandvine Corp. is receiving a five-year research and development funding commitment from the Ontario government that is worth up to $25.5 million.

Under the agreement with the province, Sandvine, a maker of broadband networking equipment that manages the flow of web traffic, is eligible for 11 per cent of about $170 million worth of R&D spending over five years, up to a maximum of $18.7 million.

Also, if it hits certain job targets, it is eligible to get funding for an additional four per cent of the costs up to a maximum of another $6.8 million, Sandvine announced today.

The company hasn’t revealed details of the research and development projects or how many jobs are being created.

Jennifer Ross, a spokesperson for Sandvine, said the company is working with the province to schedule a formal announcement where more details will be released.

The company, founded in 2001, employs 300 people, including 250 at its facility on Albert Street in Waterloo.

Dave Caputo, Sandvine’s president, said in a news release that the funding provides Sandvine with a “tremendous opportunity” to advance its research and development activities.

The growing wireless market has generated a surge in sales for Sandvine. The company is expanding its business with mobile and digital subscriber line (DSL) internet service providers and is gaining more international customers.

Revenue from DSL and mobile markets increased by more than 80 per cent, while revenue outside North America grew by more than 60 per cent in the company’s fiscal 2009.

The company’s efforts to boost sales in the wireless market got a $1-million boost from federal government funding last fall.

At the time, Caputo said data expansion on mobile networks has been “growing incredibly.”

[RangersFan]

Thanks for fixing this page UrbanWaterloo

[IEFBR14]

You guys do realize that Sandvine is a major "arms dealer" in the war against network neutrality and other forms of Internet censorship? Their activities aren't something that residents of K-W should be proud of, nor something that Ontario and Canadian taxpayers should subsidize.

[RangersFan]

While this is very true, and I even debated wether or not to post about them on here. Maybe we should have a vote on whether Sandive should be represented on WW or not.

[IEFBR14]

It would be rather inconsistent and ironic to censor/throttle discussion here about a company that designs and builds technology that's used to censor/throttle the Internet. That certainly wasn't the intention of my post. Rather I wanted to point out what Sandvine does and to suggest why we shouldn't be proud of their accomplishments or encourage them through taxpayer subsidies.

[Spokes]

Ya I don't think that we should limit the content here on WW. By posting news about Sandvine here it doesn't mean that people agree with their tactics, but rather just to keep users updated about the company.

I think what WW is about is providing news and allowing for people to discuss issues, this being one of them. I think that censoring this is a slippery slope and wouldn't really achieve what WW's goal is.

[RangersFan]

Very true

[Urbanomicon]

I agree. WW should be an unbiased source of information on what's happening in the region, not a place to censor content on the basis of political/ethical ideals. If we start doing this, we will be as bad as the anti-network nautrality companies that people are complaining about.

[Brenden]

Agreed report on them just be aware that they are evil.

[UrbanWaterloo]

Sandvine Reports Q1 2010 Results
Waterloo, Canada; April 6, 2010 – http://www.sandvine.com/news/pr_detail.asp?ID=259

Sandvine Corporation, (TSX:SVC; AIM:SAND) a leading provider of intelligent broadband network solutions for DSL, cable, FTTx, fixed wireless and mobile operators, today reported record quarterly revenue of $21.9 million and GAAP net income of $0.6 million for its first quarter of 2010.

“I am extremely pleased to see Sandvine return to profitability this quarter. Our results are starting to show the benefit of some significant investments that we have been making to expand Sandvine’s long-term market opportunity and to enable a balance in our business across broadband access technology markets, sales regions and sales channels,” said Dave Caputo, president and chief executive officer.

The cable and DSL markets each contributed 36% of Sandvine’s first quarter revenue, while mobile and other markets contributed 28% of revenue. Sandvine’s revenue was split almost equally between North America and all other sales regions. Over forty percent of revenue was earned through reseller partners.

Sandvine’s GAAP net income in the first quarter was $0.6 million ($0.004 per diluted share) and non-GAAP1 net income was $1.6 million ($0.012 per diluted share), compared to losses in both Q4 2009 and Q1 2009. A reconciliation of GAAP to non-GAAP1 results is included as Table 1. The results for the quarter reflect the adoption of EIC 175, Multiple Deliverable Revenue Arrangements, which increased first quarter revenue by $1.5 million compared to what would have otherwise been recognized under the previous accounting standard.

Sandvine added $2.7 million to its cash and marketable securities balance over the quarter, to total $88.4 million at February 28, due largely to positive cash flow from operations.

FINANCIAL HIGHLIGHTS (All amounts are in Canadian dollars)


Sandvine is focused on growing its fixed and mobile service provider customer base and the number of broadband subscribers they represent. The Company has over 180 service provider customers in 80 countries. Together these customers serve more than 90 million fixed line broadband subscribers and more than 200 million mobile subscribers, a rapidly growing number of whom use broadband data services.

In the first quarter of 2009 Sandvine won six new customers.

• By access technology: three DSL service providers, two cable operators and one mobile service provider.
• By geography: five from EMEA and one from Asia Pacific. Sandvine made initial sales to customers in three new countries.
• Sales channel: three customers were won through reseller partners, including two that were won through a strategic relationship with a global network equipment vendor.

To download the complete results in PDF format (~111kb) please click the link: [download release]


Sandvine posts surprise profit; shares hit 2-year high
News from Reuters - (Reporting by Arnika Thakur in Bangalore; Editing by Gopakumar Warrier, Unnikrishnan Nair)
Tuesday, April 6, 2010 - http://www.theglobeandmail.com/globe...SS-US-SANDVINE

Canadian network equipment maker Sandvine Corp posted a surprise first-quarter profit, helped by better sales and lower costs, sending its shares up 15 percent to a two-year high.

"Our results are starting to show the benefit of some significant investments that we have been making to expand Sandvine's long-term market opportunity," Chief Executive Dave Caputo said in a statement.

Operating expenses for the quarter came down 17 percent to C$15.8 million.

The company said on a conference call that it signed an agreement with the province of Ontario for research and development funding, under which it could receive up to C$25.5 million in credits between February 2009 and February 2014.

Sandvine, which helps broadband and telecom operators manage data traffic, posted net income of C$0.6 million, or breakeven per share, compared with a loss of C$4.8 million, or 4 Canadian cents a share last year.

Revenue for the quarter rose 18 percent to C$21.9 million.

Excluding special items, the company earned 1 Canadian cent a share.

Analysts on average had expected a loss of 2 Canadian cents per share, on revenue of C$19.7 million, according to Thomson Reuters I/B/E/S.

Sandvine had won six new service provider customers during the quarter.

Shares of Waterloo, Ontario-based Sandvine were up 9 percent at C$2.14 Tuesday morning on the Toronto Stock Exchange. They touched a high of C$2.25 earlier in the session, making the stock one of the top gainers on the exchange.

[RangersFan]

Sandvine investing $170 million in new technology
May 10, 2010 | Record staff

WATERLOO – Sandvine Corp. is investing almost $170 million over the next five years to develop products that will allow internet service providers to better manage traffic on their networks.

The Ontario government said today it is supporting the Waterloo’s company research and development activities with a grant of up to $25.5 million.

Sandvine, a provider of equipment and software that helps internet service providers manage traffic and offer additional services to their customers, had announced the spending plans and provincial contribution in a news release in March. However, at the time it said it could not provide any details.

Today, the government said the investment program is expected to create as many as 75 jobs at Sandvine. The company currently has 300 employees, including 250 at its offices on Albert Street.

In a news release, the government said Sandvine is developing new products that will “improve internet subscribers’ experience and meet growing consumer demand for high-bandwidth, quality-sensitive applications, like streaming video.”

Sandvine’s customers provide internet service to more than 300 million subscribers around the world.

“The province’s support gives Sandvine a tremendous opportunity to continue to advance our research and development activities right here in Waterloo,” Dave Caputo, the company’s chief executive officer, said in the release.

[UrbanWaterloo]

Sandvine Reports Q2 2010 Results
Waterloo, Canada | July 8, 2010 | Link

Sandvine, (TSX:SVC)(AIM:SAND) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported record quarterly revenue of $22.4 million and GAAP net income of $2.0 million (non-GAAP1: $3.7 million) for its second quarter of 2010.

"This is our fourth consecutive quarter of revenue growth and second consecutive quarter with positive earnings and cash flow. We remain focused on continuing our revenue growth and are pleased with our progress towards this goal so far this year," said Dave Caputo, Sandvine's President and Chief Executive Officer.

The DSL and mobile markets each had record quarters, each contributing 40% of Sandvine's second quarter revenue, while the cable market contributed 20% of revenue. Sandvine's revenue was split almost equally between North America and all other sales regions combined. Forty-one percent of revenue was earned through reseller partners.

Over the quarter Sandvine generated $3.1 million in cash which increased its cash and marketable securities balance to $91.6 million at May 31, due largely to positive cash flow from operations.

FINANCIAL HIGHLIGHTS (All amounts are in Canadian dollars)


GAAP earnings were positively impacted by $3.2 million of funding from Ontario’s Next Generation of Jobs Fund. The Company anticipates recording funding of $0.6 – $0.7 million per quarter of funding related to this program during the term of the agreement which ends in February 2014. GAAP earnings were negatively impacted in the quarter by a $0.7 million one-time, non-cash intangible asset impairment charge.

Sandvine is focused on growing its fixed and mobile service provider customer base and the number of broadband subscribers they represent. The Company has over 190 service provider customers in over 80 countries. Together these customers serve more than 90 million fixed line broadband subscribers and more than 200 million mobile subscribers, a rapidly growing number of whom use broadband data services.

In the second quarter of 2010 Sandvine won nine new customers.

• By access technology: five DSL service providers, three mobile service providers and one cable operator.
• By geography: four from North America, three from EMEA and one each from Asia Pacific and Caribbean and Latin America. Sandvine made initial sales to customers in three new countries.
• Sales channel: three customers were won through reseller partners, including two that were won through strategic relationships with global network equipment vendors.

To download the complete results in PDF format (~163kb) please click the link below: [download release]

[UrbanWaterloo]

Sandvine Reports Q4 and Fiscal Year 2010 Results
Waterloo, Canada | January 13, 2011 | Link | Full Results PDF

Sandvine, a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported record quarterly revenue of $25.0 million and GAAP net income of $0.9 million (non-GAAP1: $1.7 million) for its fourth quarter of 2010. Fiscal 2010 revenue was $93.8 million, 36% higher than the $68.8 million reported for fiscal 2009. GAAP net income for fiscal 2010 was $5.6 million (non-GAAP1: $10.1 million), compared to a loss of $19.5 million (non-GAAP1: $10.5 million loss) in fiscal 2009.

“The DSL market and the Asia Pacific sales region were exceptionally strong for us in both the fourth quarter and full year. For the year, revenue from the DSL market almost doubled and revenue from Asia Pacific grew by over 160%,” said Dave Caputo, Sandvine’s President and Chief Executive Officer. “We grew revenue in every sales region, thanks in part to our reseller revenue almost doubling for the year. We now work with over 20 resellers globally, including four strategic relationships with major network equipment providers.”

For the fourth quarter, approximately 60% of the Company’s revenue was derived from the DSL access market (FY 2010: 47%), 22% from the mobile access market (FY 2010: 30%) and 18% from cable network operators (FY 2010: 23%). During the fourth quarter, approximately 72% of total revenues came from outside North America (FY 2010: 58%) and 64% of the Company’s revenue was earned through reseller partners (FY 2010: 50%).

FINANCIAL HIGHLIGHTS (All amounts are in Canadian dollars)

Millions of dollars, except per share data and where otherwise indicated	Q4 2010	Q4 2009	Change	Q3 2010	Change
Revenue	25.0	19.0	32%	24.4	2%
Gross Margin percent	72%	73%	-1pp	74%	-2pp
R&D, SG&A	15.0	14.5	4%	13.8	9%
Net Income (Loss)	0.9	(4.7)	-	2.2	-60%
Diluted Earnings (Loss) Per Share	0.006	(0.035)	-	0.016	-63%
Non-GAAP1 Income (Loss)	1.7	(1.8)	-	3.1	-44%
Non-GAAP1 Diluted Income (Loss) Per Share	0.012	(0.013)	-	0.022	-45%

Sandvine’s cash, cash equivalents and and marketable securities balance at the end of the fourth quarter remained strong at $90.3 million (August 31: $89.4 million; November 30, 2009: $85.8 million) and increased by $4.5 million since November 30, 2009.

Sandvine’s fiscal 2010 non-GAAP1 net income was $10.1 million, or $0.072 per diluted share (GAAP basis: $5.6 million, or $0.040 per diluted share) compared to a $10.5 million loss, or $0.077 loss per diluted share for fiscal 2009 (GAAP basis: $19.5 million loss, or 0.144 per diluted share).

Sandvine is focused on growing its fixed and mobile service provider customer base and the number of broadband subscribers they represent. The Company has over 200 service provider customers in over 80 countries. Together these customers serve more than 90 million fixed line broadband subscribers and more than 250 million mobile subscribers, a rapidly growing number of whom use broadband data services. In the fourth quarter of 2010 Sandvine won five new customers.

• By access technology: two DSL service providers, two mobile service providers and one cable operator.
• By geography: three from EMEA, one from Asia Pacific and one from North America.
• Sales channel: two customers were won through reseller partners, including one through a strategic relationship with a global network equipment vendor.

Change in Functional and Reporting Currency
As a result of the continuing shift experienced in the proportion of Sandvine’s revenues, expenses, assets and liabilities that are denominated in U.S. dollars (USD), and its expectation that this shift will continue in future periods, effective December 1, 2010 Sandvine has adopted the USD as its functional and reporting currency. In conjunction with adopting the US dollar as the Company’s reporting currency, certain historical USD denominated financial results have been included in the Company’s Management’s Discussion and Analysis, filed on SEDAR. This information is provided for the purpose of assisting readers in comparing such results with results to be reported after December 1, 2010.

[IEFBR14]

Sandvine, a leading provider of intelligent network policy control solutions for fixed and mobile operators...

Translation: "Sandvine is a leading arms manufacturer in the Internet ISPs' and cellphone carriers' war against network neutrality. Their solutions enable carriers to prioritize traffic by data type, throttle it, interfere with original content, charge subscribers rapacious overage fees, and otherwise create a closed, censored, manipulated and artificial Internet environment."

Other than that...

[jerryhung]

It was a weird day for sure, good #'s and DOWN -12%
and next day, UP 10%

That was a strange and quick $200 profit for me in < 24 hours

[UrbanWaterloo]

Sandvine Reports Q1 2011 Results
April 6, 2011 | Link | Full Results PDF

Sandvine, a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported revenue of $19.2 million and a GAAP loss of $2.7 million (non-GAAP1: $1.9 million loss) for its first quarter of 2011. All results are reported in U.S. dollars.

“Since last quarter Sandvine has continued to expand the role we play in broadband networks,” said Dave Caputo, Sandvine’s President and Chief Executive Officer. “Our new Policy Traffic Switch 22000 platform is ideal for network edge deployments, where there are unique opportunities to help service providers manage traffic to increase revenue opportunities and run their networks more efficiently. Also, our new joint solution with Citrix gives mobile operators an excellent tool to enhance subscribers’ quality of experience, reduce traffic in the busy mobile packet core network and create innovative new data roaming plans.”

For the first quarter, approximately 59% of the Company’s revenue was derived from the DSL access market, 19% from the mobile access market and 22% from cable network operators. During the first quarter, approximately 71% of total revenues came from outside North America and 64% of the Company’s revenue was earned through reseller partners.

FINANCIAL HIGHLIGHTS (All amounts are in U.S dollars)

Millions of dollars, except per share data and where otherwise indicated	Q1 2011	Q1 2010	Change	Q4 2010	Change
Revenue	19.2	20.7	-7%	24.2	-20%
Gross Margin percent	71%	75%	-4pp	72%	-1pp
R&D, SG&A	14.3	12.9	10%	14.7	-3%
Net Income (Loss)	(2.7)	0.5	-	0.6	-
Diluted (Loss) Earnings Per Share	0.020	0.003	-	0.004	-
Non-GAAP1 Income (Loss)	(1.9)	1.5	-	1.4	-
Non-GAAP1 Diluted Income (Loss) Per Share	(0.014)	0.011	-	0.010	-

Sandvine’s cash, cash equivalents and marketable securities balance at the end of the first quarter remained strong at $90.0 million (November 30, 2010: $87.9 million).

Sandvine is focused on growing its fixed and mobile service provider customer base and the number of broadband subscribers they represent. The Company has over 200 service provider customers in over 80 countries. Together these customers serve hundreds of millions of subscribers. In the first quarter of 2011 Sandvine had thirteen new customer wins –the highest level in over two years.

• By access technology: five DSL service providers, four mobile service providers and four cable operators.
• By geography: six from North America, five from EMEA, one two from Asia Pacific.
• Sales channel: four customers were won through reseller partners, including three through a strategic relationship with a global network equipment vendor.

Change in Functional and Reporting Currency
Effective December 1, 2010 (the “Conversion Date”), the Company adopted the U.S. dollar (“USD”) as its functional currency. This is the result of the continuing shift that the Company has experienced in the proportion of its revenues, expenses, assets and liabilities which are denominated in USD, and its expectation that this shift will continue in future periods. Prior to the Conversion

[UrbanWaterloo]

Sandvine Wins Five New Customers
Demand continues for Sandvine’s new Policy Traffic Switch 22000
July 26, 2011 | Sandvine | Link

Sandvine, a leading provider of intelligent broadband network solutions for fixed and mobile operators, today announced that it has won five new broadband service provider customers: three wireless operators and two DSL access providers. Sandvine has now won more customers in 2011 than the Company did throughout all of fiscal 2010.

Customer demand reflected the breadth of Sandvine’s network policy control capabilities:

• Quota Management, to help service providers move from all-you-can-eat data plans to consumption-based service tiers;
• Network Analytics, to provide actionable reporting and insightful analysis for operators’ marketing and business executives;
• Fairshare Traffic Management, to allocate network resources fairly and efficiently during times of network congestion;
• VoIP Quality of Experience, to ensure subscribers’ satisfaction by monitoring the quality of experience of their VoIP calls.

Three of the new customers purchased Sandvine’s new Policy Traffic Switch 22000 (PTS 22000) platform, which was announced earlier this year.

“The market continues to validate the PTS 22000,” said Tom Donnelly, Sandvine’s EVP Marketing and Sales. “It is an economical solution that provides excellent performance at the network service edge, where Sandvine offers service providers the broadest set of policy options to help improve the subscriber experience, generate new revenue streams and optimize traffic flow.”

The customers are located in the United States, the United Kingdom, South Africa, Central America and the Caribbean. One of the wins was with Sandvine’s newest systems integrator partner, Acision.

[UrbanWaterloo]

Sandvine Celebrates Ten Years
Company has grown from forty to over 400 team members
August 31, 2011 | Sandvine | Link

Sandvine, a leading provider of intelligent broadband network solutions, today announced their tenth anniversary. The company was founded on August 31, 2001, amidst the uncertain times of the dot com bust and the 9/11 event, but on a strong footing with 40 employees and $19.5 million in seed financing. In addition, co-founders Dave Caputo, Marc Morin, Brad Siim, Tom Donnelly and Don Bowman brought with them seasoned entrepreneurial expertise, having previously founded PixStream, which sold to Cisco in 2000 for over half a billion dollars (CAD).

Sandvine completed an initial public offering on the London AIM exchange under the ticker 'SAND' in March of 2006, shortly followed by an offering on the Toronto Stock Exchange under the ticker 'SVC' in October. In 2007, CableMatrix was acquired by the company, which strengthened Sandvine’s position in the policy control market. In the same year, Sandvine also purchased Simplicita to enable reputation-based subscriber protection policies.

Sandvine first found its roots with cable and DSL Internet providers and sold traffic management solutions using its award-winning Policy Traffic Switch (PTS) platform. Since then Sandvine’s products have evolved to meet the breadth of service providers’ emerging needs, and to address use cases in both fixed and mobile networks, with a suite of solutions that combine together under the umbrella market space of Network Policy Control. Within the past year, Sandvine has been named a market leader by three independent analyst firms: Heavy Reading, Infonetics Research and Frost & Sullivan.

Currently, Sandvine has a global presence with over 200 customers in over 85 countries, with sales centers and personnel in each major geographic region. Sandvine customers include: Comcast, NTT Communications, Telefónica, and O2. Sandvine revenues have grown to approximately US$90 million in 2010 and this achievement has garnered Sandvine a spot on the Deloitte Fast 50 list of fastest growing technology companies in Canada and the Deloitte Technology Fast 500 list of fastest growing technology companies in North America for several years running. In addition, Sandvine has been recognized by the Great Place to Work Institute Canada for the past five consecutive years.

Sandvine’s software products include:

Network Analytics, a sophisticated analysis tool that empowers confident business decisions through network-wide visibility and answers questions like: “What applications are most used on my network?” and “How many YouTube or Netflix movies are being watched on my network?” Armed with such analysis, service providers can leverage the Network Policy Control product suite to implement desired engineering, marketing and charging strategies. In fact, through its own analytics insight, Sandvine was the first company in 2002 to discover that peer-to-peer file sharing was the largest consumer of bandwidth on the consumer Internet, and that in 2010, Sandvine was the first company to identify that Netflix was consuming 20% of downstream traffic in North America, a value which has risen since to 30% as reported the last Sandvine Global Internet Phenomena Report.

Fairshare Traffic Management, a network optimization tool for any access network helps providers manage inherent competition for network resources, manage peak congestion, and meet the growing demand for bandwidth-intensive applications - all while preserving subscribers’ quality of experience on the Internet.

Usage Management, a service creation product that enables providers to better meet the unique needs of their subscribers with tier-based pricing plans, measures to protect against bill shock, and dynamic subscriber notification when nearing plan quota limits.

Network Integrity, a solution for protecting infrastructure investment from malicious network traffic, such as outbound e-mail spam, enabling compliance to access control regulations, and identifying potential problems before subscribers do, in order to minimize the impact to operations.

“It is truly an honour to be part of such an amazing journey these last ten years, and I’d personally like to thank all of our customers, investors, stakeholders and the Sandvine team for the continued growth over the years,” said Dave Caputo, CEO, Sandvine. “Sandvine customers have always been in the forefront of our minds and our close partnership with global service providers helps shape our understanding of their business requirements and technical needs.”

[UrbanWaterloo]

Sandvine Reports Q4 and Fiscal Year 2011 Results
January 12, 2012 | Sandvine | Link

Sandvine, a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported revenue of $20.6 million and a GAAP net loss of 3.6 million (non-GAAP1 loss of $2.8 million) for its fourth quarter of 2011. Fiscal year 2011 revenue was $89.3 million and the GAAP net loss was 5.8 million (non-GAAP1: $2.2 million loss). All results are reported in U.S. dollars.

Q4 2011 highlights

• Revenue by access technology market: DSL 21% (FY ’11: 41%); wireless 37% (FY ’11: 34%); cable 40% (FY ’11: 23%); other 2% (FY ’11: 2%)
• Revenue by geography: NA 51% (FY ’11: 40%); EMEA 23% (FY ’11: 30%); APAC 10% (FY ’11: 19%); CALA 16% (FY ’11: 11%)
• Revenue by sales channel: reseller 44% (FY’11: 54%) direct 56% (FY’11: 46%)
• 7 new customers: 4 wireless; 2 DSL ; 1 fibre-to-the-home.
• Awarded $4.5 million expansion order for Network Analytics by Tier 1 US MSO
• Won industry award for “Best Implementation of Tiered Data Pricing” for its Usage Management product and another industry award for its Network Analytics product
• David Thomson, strategy consultant and bestselling author of Blueprint to a Billion joined Sandvine’s Board of Directors

“We added 44 new customers in 2011 and have the largest and most diversified customer base in our industry. We also offer the broadest portfolio of Network Policy Control solutions in the market. In 2012 our goal is to return to revenue growth and profitability by leveraging the value of our newest solutions for existing customers and continuing to add new customers across markets,” said Dave Caputo, Sandvine's President and CEO.

FINANCIAL HIGHLIGHTS (All amounts are in U.S. dollars)

Millions of dollars, except per share data and where otherwise indicated	Q4 2011	Q3 2011	Change	Q4 2010	Change
Revenue	20.6	25.6	-19.4%	24.2	-14.7%
Gross Margin percent	72%	76%	-4pp	72%	Nil
R&D, SG&A	15.8	16.6	-4.5%	14.7	7.6%
Net Income (Loss)	-3.6	0.5	-	0.6	-
Diluted Earnings (Loss) Per Share	-0.026	0.004	-	0.004	-
Non-GAAP1 Income (Loss)	-2.8	1.5	-	1.4	-
Non-GAAP1 Diluted Income (Loss) Per Share	-0.020	0.010	-	0.010	-

Sandvine’s cash, cash equivalents and short term investments balance at the end of the fourth quarter remained strong at $74 million (August 31, 2011: $75.1 million).

To download the complete results in PDF format (~89kb) please click the link below:
[download release]