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Procera Networks Announces Third Quarter 2011 Results
Third Quarter Revenue of $12.2 Million, Up 158% Year-Over-Year
Third Quarter Highlights
- Revenue of $12.2 million, up 158% from Q310
- Bookings of $21 million, up 360% from Q310
- Added 15 new service provider customers
- Won two new Tier-1 customers in APAC including one fixed and one mobile operator
- Received significant follow on orders during the quarter, including multi-million dollar follow-on orders from a leading European mobile operator and a leading North American cable operator
- Support revenue of $2.1 million, up 66% from Q310
- Received 53 new higher education product orders
- 18 direct Tier-1 trials ongoing or planned over the next 90 days
- Gross margin of 61%, compared to 62% in Q211 and 57% in Q310
- Net income of $2.0 million, compared to a net loss of $0.7 million in Q310
- Cash and short-term investments was $34.3 million at September 30, 2011
Financial Guidance
Procera is increasing its annual revenue guidance for 2011 to $40 million, representing growth of 100% year-over-year.
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