Q1 was a strong quarter for the company - revenues were $24.5M (74% growth from last year) and net earning were $4.6M. It seems that management sees also strong quarters ahead, at the new guidance for 2010 is revenues of $85-$94M compared to 2009 revenues of $66.7M and previous guidance of $82-92M. These are Canadian $ - the exchange rate to US$ is approx. 1.
Share are gaining ~3% at midday trading today.
We get more proof to the nice growth of the policy management market (see also "Policy Server Market - Still Small, but Always Optimistic!" - here), as Bridgewater informs us about some deals and trials:
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- The increase in product revenue primarily reflects the delivery and acceptance of the WideSpan systems for Verizon Wireless".
WideSpan is a package of BWS products that includes a Policy Controller. Earlier this quarter we saw a press release from Camiant on selling Policy server to Verizon wireless as well. (see "Verizon Wireless Selects Camiant for PCRF (so what happened to Bridgewater?)" - here). So the mystery of Verizon Policy Server vendor remains.
- Selected by Mobily, the largest provider of mobile broadband in Saudi-Arabia, to provide the Bridgewater® Service Controller and Policy Controller to manage mobile data growth across its WiMAX, and Wi-Fi networks with plans to integrate with the HSPA network.
- Bridgewater® Policy Controller was deployed by a European property of a major global mobile operator group to meet new EU mobile data roaming legislation and empower subscribers to personalize and manage mobile data usage. (see "EU Helps Preventing Mobile Bill Shock" - here).
- Continued momentum in helping customers transform to 4G with five confirmed LTE trials with major operators in Asia Pacific and North and South America for the Bridgewater® EPC 500 'control-plane-in-a-box' system.
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