March 3, 2010 / 12:44 PM / 8 years ago

UPDATE 2-Sandvine sees new contracts helping Q1 rev; shares soar

* Says inks six new contracts in EMEA, Asia Pacific region

* Shares rise 13 pct to new 52-week high (Recasts; Adds details, company comments, share movement)

By R. Manikandan

BANGALORE, March 3 (Reuters) - Network equipment maker Sandvine Corp SVC.TO said it won six new service provider customers, and expects the contracts to add to its first-quarter revenue, sending its shares up 13 percent to a new 52 week high.

Sandvine, which helps broadband and telecom operators manage data traffic, said three of the customers are digital subscriber line (DSL) service providers, two are cable network operators and one is a mobile broadband service provider.

“Some revenue (from the contracts) will fall into the first quarter of 2010,” a company spokesman said by phone.

Five of the customers are from the Europe Middle East and Africa (EMEA) region, and one from the Asia Pacific region. One of the customers is a tier-one service provider, which Sandvine defines as an operator with over one million broadband customers.

“For the last couple of years service providers from EMEA have been the largest source of requests for proposal for our solutions,” Chief Executive Dave Caputo said in a statement.

Shares of Waterloo, Ontario-based Sandvine were up 14 Canadian cents at C$1.80 in afternoon trade on the Toronto Stock Exchange. They touched a high of C$1.87 earlier in the day.

Last month, Sandvine received a contract from Japan’s NTT Communications Corp to deploy its Policy Traffic Switch (PTS) on NTT’s high speed network in Japan. [ID:nSGE6102HY]

In December, Sandvine said it got six mobile service providers and two DSL operators as customers. [ID:nBNG449350] (Reporting by R. Manikandan in Bangalore; Editing by Ratul Ray Chaudhuri)

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