BUSINESS

Sandvine adjusted earnings come in ahead of estimates in third quarter

10/03/2013 07:37 EDT | Updated 12/03/2013 05:12 EST
WATERLOO, Ont. - Sandvine Corp. (TSX:SVC) had US$4.7 million of net income, or $5.1 million of earnings on an adjusted basis, in its third quarter ended Aug. 31.

The telecom technology company's adjusted earnings were 3.6 cents per share, about a penny better than estimates, while net income was 3.3 cents per share.

Sandvine's revenue was US$27.2 million, up 25 per cent from a year earlier but about $200,000 below estimates compiled by Thomson Reuters.

A year earlier, Sandvine had a net loss of $900,000 or $400,000 on an adjusted basis with revenue of $21.8 million in the third quarter of fiscal 2012.

The company, based in Waterloo, Ont., provides technology for managing communications networks.