With the release of Allot Communications' results (and preliminary results from Procera), all 3 public DPI companies published 2012 Q1 reports.
All together, the 3 pure players of standalone DPI devices, Allot Communications, Procera and Sandvine generated $56.3M from products and services (not all targeting the fixed/mobile broadband market) during Q1, compared to $43.3M in the same quarter last year (+30%).
A short comparison for Q1:
Q1, 2012 | |||
Symbol | NASDAQ:ALLT | AMEX:PKT | TSX:SVC |
Press release link | Here | Here (1) | |
Q1-12 Revenues |
$24.2
|
$11.8-12.2M
| $20.1 |
Q1-11 to Q1-12 change
|
41%
|
74%
| 5% |
Q4-11 to Q1-12 change
|
10%
|
-11%
| -4% |
Q1-12 Net Income (GAAP) |
$3.2M
|
N/A
| -$6.5M |
Gross margin |
71.5%
|
65%
| 54%/72% (3) |
Market Cap (2) |
$777M
|
$301M
|
$247M
|
Cash
|
$165.4M
|
N/A
| $74.1M |
Enterprise Value
|
$612M
|
N/A
|
$173M
|
The chart below shows the DPI stock performance (Dec 30, 2011 - April 30, 2012). All stocks performed very well (Allot +61.4%; Sandvine +57%, Procera +33.2%), benchmarked against the NASDAQ Index (+16.9%):
Source: Yahoo! Finance |
- Sandvine Q1 is January 31
- End of day April 30, 2012
- Sandvine had a $3.7M inventory write-down, which shows in the Net Income and Margin.54% is the reported number, 72% is the margin excluding the write-off.
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