Aug 15 (Reuters) - Canada’s Bridgewater Systems Corp posted a quarterly loss, hurt by the expiry of a key contract last October.
Bridgewater Systems provides software that helps carriers manage subscriber access to applications and network resources — like bandwidth. The company’s products also alleviate network congestion by offloading data traffic to Wi-Fi, and migrating to 3G and 4G.
April-June loss was C$2.2 million, or 9 Canadian cents a share, compared with a profit of C$2.9 million, or 11 Canadian cents a share, last year.
Revenue fell 36 percent to C$14.6 million ($14.7 million).
In May, the company slashed its full-year outlook and said carriers are not committing to deals due to budget pressures.
Bridgewater, whose customers include Saudi Arabia’s Etihad Etisalat (Mobily) and Verizon Wireless, ended a contract with Alcatel-Lucent last October.
$1 = 0.991 Canadian Dollars Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel