Wednesday, July 4, 2007

Sandvine Reports Revenue Of $20.0 Million

Sandvine reported second quarter 2007 revenue of $20.0 million, up 171% from $7.4 million in Q2 2006. Net income grew to $10.3 million (of which $3.1 million related to the recognition of future tax assets) from a net loss of $0.5 million in Q2 2006. Diluted earnings per share were $0.079 (of which $0.024 was attributable to recognition of the future tax assets) compared to $(0.005) in Q2 2006. All amounts are in Canadian dollars unless otherwise specified.

"Our technological edge and broad solutions portfolio continues to pay off in design wins and follow-on business from the Tier 1 market," said Dave Caputo, Sandvine's President and CEO.

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