Sandvine posts Q4 profit of US$5.6 million
The logo for Sandvine Intelligent Broadband Newtworks is shown. THE CANADIAN PRESS/HO, Sandvine
WATERLOO, Ont. - Sandvine Corp. (TSX:SVC) posted a profit of US$5.6 million in the fourth quarter, down from US$6.5 million last year, while revenue grew to US$30.8 million from US$27.5 million.
The earnings amounted to four cents a share and were in line with analysts' expectations.
Sandvine's earnings in the quarter last year were 4.6 cents.
Analysts had also expected the company, which provides software and services that network operators use to manage their customer subscriptions, to have US$30.58 million of revenue for the fourth quarter, according to estimates compiled by Thomson Reuters.
For the full year, revenue increased by 21 per cent to US$106.5 million, up from US$87.9 million in 2012, while net income grew to US$12.9 million, reversing a year-ago loss of US$5 million.