July 9, 2009 / 11:58 AM / 9 years ago

CORRECTED - CORRECTED-UPDATE 1-Canada's Sandvine posts wider Q2 loss as expe

(Corrects first bullet point to show company posted an adjusted loss, not profit)

* Q2 adjusted loss C$0.03/shr

* Q2 rev up 37 pct to C$15.2 mln

July 9 (Reuters) - Canada’s network equipment maker Sandvine Corp SVC.TO posted a wider loss for the second quarter, partly on increased expenses.

The company reported net loss of C$5.6 million or 4 Canadian cents per share, compared with C$4.6 million or 3 Canadian cents, a year earlier.

Excluding items, it reported a loss of C$4.4 million, or 3 Canadian cents a share.

Revenue was up 37 percent to C$15.2 million, supported by strong revenue from its wireless market and nine new service provider customers bagged by the company during the quarter.

Analysts on average were expecting loss of 3 Canadian cents a share, excluding items, on revenue of C$17.14, according to Reuters Estimates.

Expenses were 21 up percent to C$17.2 million, compared with C$14.1 million, a year ago.

Shares of the Waterloo, Ontario-based company closed at C$1.17 Wednesday on the Toronto Stock Exchange. They have lost about 18 percent of their value since last month. (Reporting by Ashutosh Joshi in Bangalore, Editing by Dinesh Nair)

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