27% Growth for the DPI Market in 2011

With the release of Procera Networks results, all 3 public DPI companies published Q4 and full 2011 reports.

All together, the 3 pure players of standalone DPI devices, Allot Communications, Procera and Sandvine generated $58.2M from products and services (not all targeting the fixed/mobile broadband market) during Q4 and $211.6M during the FY2011, compared to $167M in 2010 (+26.7%).

A short comparison for Q4 and whole 2011:

Q4, 2011	Allot Communications	Procera Networks	Sandvine
Symbol	NASDAQ:ALLT	AMEX:PKT	TSX:SVC
Press release link	Here	Here	Here (1)
Q4-11 Revenues	$22M	$15.6M	$20.6M
Q4-10 to Q4-11 change	36%	108%	-14.7%
Q3-11 to Q4-11 change	10%	28%	-19.4%
Q4-11 Net Income (GAAP)	$3.5M	$1.8M	-$3.6M
Gross margin	71%	56%	72%
Market Cap (2)	$498M	$273M	$203M
Cash	$159.4 (3)	$37.4M	$74M
Enterprise Value	$338.6M	$235.6M	$129M

FY 2011	Allot Communications	Procera Networks	Sandvine
Revenues	$77.8M	$44.4M	$89.3M
Change from 2010	36%	118%	-0.4%
Margin	71%	60%	74%
Net Income (GAAP)	$8.8M	$3.8M	-$5.8M
Net Income (Non-GAPP)	$12.5M	$5.5M	-$2.2M

See also "DPI Shares Performance in 2011 - The Phenomenal, Great and Bad" - here.

 Comments:

1. Sandvine Q4 is November 30 (as of Q1, the company reports in $US)
2. End of day February xx, 2012
3. Allot issued 5.5M new shares on November 2011, @$14.25 for a total of $78.4M