Sandvine, the Waterloo-based company that develops systems to keep Internet traffic flowing smoothly and securely, reported continued strong growth in 2016 this week.
Second-quarter results show Sandvine earned revenue of $33.5 million, compared with $28.6 million over the same period last year — a change of 17 per cent. (All figures in U.S. dollars.)
Net income grew 34 per cent, from $3 million in Q2 2015 to $4 million in Q2 2016.
Sandvine brought aboard 20 new customers in the second quarter. It has added more customers so far this year than it did all of last year, the company says in a news release.
"I believe that these accomplishments reflect, in part, the investment we made last year to increase the size of our sales force,” said Dave Caputo, Sandvine’s President and CEO. “Revenue remained well diversified across sales regions, was strong in the wireless market, and no customer represented more than 10% of revenue.”
In the second quarter, the company found new customers in such places as Guyana, Switzerland, Italy and Namibia. One deal in Canada involves a neighbouring company in north Waterloo — TextNow.
Sandvine formed in 2001. It is a publicly traded leader in the management of data moving across fixed and mobile networks.
More than 700 people work at the company’s headquarters on Albert Street in Waterloo and smaller offices around the world.
