Tech company Sandvine reports Q2 profit of US$4.4M on higher revenues

WATERLOO, Ont. – Tech company Sandvine reported a higher second-quarter net profit of US$4.4 million with revenues from its global customers increasing 26 per cent.

Sandvine says its revenues were $29.7 million, compared with $23.5 million year-over-year for its services that help cable and mobile phone companies manage their network traffic.

The company earned 28 cents per diluted share, compared with $900,000, or less than a penny, in the same quarter last year.

The Waterloo, Ont., company also says it gained seven new customers in the quarter.

Sandvine’s (TSX:SVC) services are used in more than 250 networks in over 90 countries, serving hundreds of millions of data subscribers globally.

It says that if the current economic and political climate in Argentina continues or deteriorates, it may negatively impact its financial results.