Public DPI Vendors (ALLT, PKT, SVC) - Q3 2011 Results Comparison

All 3 public DPI companies published Q3 2011 reports. All together, the 3 pure players of standalone DPI devices generated $57.9M from products and services (not all targeting the service providers market) during Q3 and $153.4M during the first 9 months of FY2011.

A short comparison and a stock performance comparison (with the NASDAQ index) chart for Q3 follows:

	Allot Communications	Procera Networks	Sandvine
Symbol	NASDAQ:ALLT	AMEX:PKT	TSX:SVC
Press release link	Here	Here	Here (1)
Q3-11 Revenues	$20.1M	$12.2M	$25.6M
Q3-10 to Q3-11 change	37%	158%	10%
Q2-11 to Q3-11 change	9%	26%	7%
Q3-11 Net Income (GAAP)	$2.1M	$2.0M	$0.5M
Gross margin	71%	61%	76%
Market Cap (2)	$365.6M	$164.3M	$247.5M
Cash	$66.7M	$34.3M	$75.1M
Enterprise Value	$298.9M	$130.0M	$172.4M

 Comments:

1. Sandvine Q3 is August 31 (as of Q1, the company reports in $US)
2. End of day November 4, 2011

Public DPI Vendors (ALLT, PKT, SVC) - Q2 2011 Results Comparison

 
All 3 public DPI companies published Q2 2011 reports (a week earlier, this time). All together, the 3 pure players of standalone DPI devices generated $52.2M from products and services (not all targeting the service providers market) during Q2 and $95.5M during the first half of 2011.

Are we on our way for a $500M DPI market this year (here)? Hard to tell without the numbers from the private and larger players (Cisco, Huawei, Ericsson, ALU and NSN), but we do see a nice growth.

A short comparison and a stock performance comparison (with the NASDAQ index) chart for Q2 follow:

	Allot Communications	Procera Networks	Sandvine
Symbol	NASDAQ:ALLT	AMEX:PKT	TSX:SVC
Press release link	Here	Here	Here (1)
Q2-11 Revenues	$18.5M	$9.7M	$24.0M
Q2-10 to Q2-11 change	35%	102%	11%
Q1-11 to Q2-11 change	8%	40.6%	19.2%
Q2-11 Net Income (GAAP)	$1.6M	$0.2M	$0.1M
Gross margin	71%	62%	77%
Market Cap (2)	$355.4M	$131.4M	$309M
Cash	$63.5M	$36.8M	$80.4M
Enterprise Value	$291.9M	$94.6M	$229.0

 Comments:

1. Sandvine Q2 is May 31 (as of Q1, the company reports in $US)
2. End of day July 30,2011

Traffic Control Shares - Doing Well !

 

4 vendors focusing on traffic control solution are publicly-traded companies. Looking at the recent 12 months, and comparing to the NASDAQ index (see chart below, courtesy of Yahoo! Finance), 3 were doing very well over the last 12 months - showing us that there is a good market for traffic control - even considering the Net-Neutrality threat to this market.

• Allot Communications (NASDAQ:ALLT), Procera Networks (AMEX:PKT) and Sandvine Corporation (TSX:SVC) are "pure players" DPI vendors
   
• Bridgewater Systems (TSX: BWC) is a policy server vendor