WATERLOO, ON, Dec. 10, 2015 /CNW/ – Sandvine, (TSX:SVC) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today announced that it expects revenue for its fourth quarter to be approximately $35 million, representing record quarterly revenue. Order intake was at a record high in the fourth quarter, resulting in a positive book-to-bill ratio. All estimates are in U.S. dollars under International Financial Reporting Standards (IFRS).
Since November 20th, Sandvine has announced orders totaling over $27 million. A number of these recent wins related to opportunities that the company had identified as having been delayed.
Sandvine’s high-performance and high-efficiency 100GE Policy Traffic Switch (PTS) 32000 was a driver in a number of the announced orders, as the industry-wide 100 gigabit Ethernet upgrade cycle has begun. Some of the announced orders also saw customers adopting Sandvine’s Service Delivery Engine, which is the industry’s only universal, access-agnostic Policy and Charging Rules Function (PCRF) – an aspect of Sandvine’s product portfolio that it believes is going through an upgrade cycle.
“Sandvine is at the beginning of some very exciting opportunities. We are in the middle of product upgrade cycles, have more products to offer than ever and have a bigger sales team to address these opportunities,” said Dave Caputo, Sandvine’s President and CEO.
ABOUT SANDVINE
Sandvine’s network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks to enable services that can increase revenue and reduce network costs. Powered by Sandvine’s Policy Engine and SandScript policy language, Sandvine’s networking equipment provides end-to-end policy control functions including traffic classification, and policy decision and enforcement across the data, control and business planes. Sandvine’s products provide actionable business insight, the ability to deploy new subscriber services and tools to optimize traffic while enhancing subscriber Internet quality of experience.
Sandvine’s network policy control solutions are deployed in more than 250 networks in over 90 countries, serving hundreds of millions of data subscribers worldwide, www.sandvine.com.
CAUTION REGARDING FORWARD LOOKING INFORMATION
Certain statements in this press release constitute “forward-looking information” within the meaning of applicable Canadian securities laws and are based on expectations, estimates and projections as of the date of this press release. Forward-looking statements include, without limitation, statements with respect to projected revenues, earnings, growth rates, targets, revenue mix and product plans and the Company’s future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are necessarily based upon management’s perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being incorrect. In addition to the various factors and assumptions set forth in this press release, the material factors and assumptions used to develop the forward-looking information include, but are not limited to the following: the overall Network Policy Control market including reliance on major customers; adoption of Virtual Series solutions; the requirement for increasingly innovative product solutions; its growth strategy and the need for increasing investment in sales and marketing efforts; the demand for the Company’s products and fluctuations in future revenues; target blended gross margin; expectations of growth in the DSL and Wireless markets; expectations for DSO; sufficiency of current working capital to support future operating and working capital requirements; the stability of general economic and market conditions; currency exchange rates and interest rates; equity and debt markets continuing to provide the Company with access to capital; and the Company’s continued compliance with third party intellectual property rights; foreign exchange hedging; and that the risk factors noted below, collectively, do not have a material impact on the Company.
By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved.
Known and unknown risk factors, many of which are beyond the control of the Company, could cause the actual results of the Company to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Such risk factors include, but are not limited to each of the following, and those factors which are discussed in the Company’s 2014 Annual Information Form (“AIF”), a copy of which is available on SEDAR at www.sedar.com.
These risk factors are not intended to represent a complete list of the factors that could affect the Company and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
