Mobile Personalization

Bridgewater Systems, the mobile personalization company whichenables service providers to efficiently manage and profit from mobile data services, announced financial results for the first quarter of the year.

The company reported revenue of CAD 24.5 million for Q1 2010, an increase of 74 percent over A1 2009. Product revenue for Q1 2010 was CAD18.9 million, an increase of 76 percent over the previous year.

Service and support revenue was calculated as CAD5.6 million for Q1 2010
compared to CAD3.3 million for Q1 2009, an increase of 71 percent, the company said.

Net earnings for the quarter were CAD4.6 million, compared with net earnings of CAD2.9 million in Q1 2009. Cash and cash equivalents, and short-term investments were increased to CAD84.3 million.

Ed Ogonek, CEO of Bridgewater Systems (News - Alert), says that current customer engagements drove significant increases in revenues and earnings in the first quarter.

Mobile service providers globally are faced with challenges resulting from the surge in data traffic. Bridgewater offers intelligent control solutions to help providers address these challenges. As a result, there is a growing interest in these solutions, Ogonek noted.

"We are focused on converting this interest into new customer wins during 2010, particularly outside North America, while expanding our business with current customers as they manage quickly growing mobile data traffic across 3G and 4G networks," Ogonek added.

Bridgewater's WideSpan system is an integrated portfolio offering that enables personalization in a high mobile transaction environment. The solution has been deployed by Verizon (News - Alert) Wireless.

"The increase in product revenue primarily reflects the delivery and acceptance of the WideSpan systems for Verizon Wireless and the advancement of revenue due to an expected transition in the Company's business with Verizon Wireless," a statement from the company said.

Bridgewater was 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 (News - Alert), and Wi-Fi networks with plans to integrate with the HSPA network, the company said.
The solution was also deployed at 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.

The company has extended No.1 global policy market leadership in both the overall global policy market and in the mobile policy segment according to Infonetics Research.

Bridgewater is engaged in helping customers transform to 4G. So far the company has confirmed five LTE (News - Alert) trials with major operators in Asia Pacific and North and South America for the Bridgewater EPC 500 'control-plane-in-a- box' system.

Earlier this year, the company also unveiled new solutions to optimize 3G networks and alleviate congestion. The new solutionextends Bridgewater Policy Controller with a new RAN Congestion module, company officials said.