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.