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Sandvine (T.SVC) hauls in $5.0 million in expansion orders

Stockhouse Editorial
0 Comments| July 15, 2014

Waterloo Ontario-based Sandvine (TSX:SVC, Stock Forum) added more revenue to its books with today's announce that the network solutions company had received follow-on orders from two tier 1 service providers in its European Middle East and Africa sales region totaling $5.0 million.


According to the news release, the $5.0 million in expansion orders were received in Q3 and were related to the deployment of its Traffic Management and Network Analytics.


The release went on to note that the first provider operated in Western Europe with more than 50 million broadband and mobile subscribers globally, and the second operator provided Internet access in Africa to an estimated one million fixed line subscribers and has been a customer since 2008.


Company COO, Sales and Global Services, Tom Donnelly, commented, “Sandvine is dedicated to offering our operator customers business intelligence and policy solutions that scale to meet the demands of growing networks and that help them make strategic business decisions.”


Then he summed up, “We continue to invest in sales and marketing opportunities in the EMEA region and are pleased to see those investments turning into successes for our customers.”


Sandvine was in the news recently when the company reported Q2 2014 results five days ago.


Shares edged up 1.93% on the news to $3.425 per share.


Currently there are 150.3m outstanding shares with a market cap of $514.8 million.

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