Company receives $2.5 million in follow-on orders
WATERLOO, ON, July 9, 2012 /CNW/ - Sandvine, (TSX:SVC; AIM:SAND) a leading provider of intelligent broadband network solutions for fixed and mobile operators, today announced that it has concluded a new supply arrangement with Alcatel Lucent relating to sales of Sandvine's Network Policy Control solutions to a joint, multinational operator group customer. In connection with the agreement, Sandvine has received follow-on orders from five properties in the operator group worth approximately $2.5 million. The Company expects that a portion of the revenue relating to these orders will begin to be recognized in its third quarter.
"We are very pleased to finalize our supply arrangement with our partner and to see orders from this important customer begin to flow again. We have visibility into opportunities with certain properties within the global operator group, and expect additional business over coming quarters," said Dave Caputo, Sandvine's President and CEO.
Orders to date include demand for:
- Sandvine's PTS 24000 platform;
- Online charging to support the implementation of new service tiers;
- Network protection for a more secure subscriber experience;
- Traffic steering to ecosystem partner solutions, such as content caching for more efficient delivery of content to subscribers.
Sandvine's network policy control solutions focus on protecting and improving the quality of experience on the Internet. Our award-winning network policy control equipment and software helps fixed and wireless and mobile operators better understand network traffic, manage network congestion, create new services and revenues, mitigate traffic that is malicious or undesirable to subscribers, deliver QoS-prioritized multimedia services and increase subscriber satisfaction. With over 200 service provider customers in over 85 countries, serving hundreds of millions of broadband and mobile data subscribers, Sandvine is enhancing the Internet experience worldwide. For more information, please visit: www.sandvine.com.
Certain statements in this release which are not historical facts constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements") and are made pursuant to the "safe harbour" provisions of such laws. Statements related to the scope of deployment of Sandvine's products by a specific customer, the potential revenue opportunity with any particular customer or in any market segment, the benefit's of Sandvine's products and services to be realized by customers, Sandvine's market position, future opportunities, product development plans and demand for Sandvine's products and services are forward looking statements, as are any statements relating to future events, conditions or circumstances. Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements involve both known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Sandvine to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation, changes in internal deployment strategies or plans by specific customers; the growth of broadband internet usage and levels of capital spending on broadband network management systems; the timing of orders and manufacturing lead times; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; increased competition in the broadband network equipment industry; dependence on the timely development and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks including dependence on key suppliers and key technologies; dependence upon indirect channel sales and resellers; factors such as business and economic conditions and growth trends in the broadband network equipment industry and in various geographic regions; global economic conditions and uncertainties in the geopolitical environment including the impact of regulation related to the internet and the delivery of internet services. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and Sandvine does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
For further information:
Andrew Chubb/Simon Bridges
Canaccord Genuity Limited
+44 0207 050 8000