Dec 6 (Reuters) - Canadian network equipment maker Sandvine Corp expects its fourth-quarter revenue to fall 20-22 percent from last year, hurt by budget reductions and poor performance amongst some of its largest customers.
Waterloo, Ontario-based broadband equipment maker sees fourth-quarter revenue in the range of C$19.5-C$20 million, compared with C$25 million a year ago.
“Several of our largest customers did not generate the level of business we had anticipated for a variety of reasons, including budget reductions... shifting capital priorities and slower roll-outs,” Chief Executive Dave Caputo said in a statement.
Sandvine shares closed at C$1.84 on Monday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Sreejiraj Eluvangal)