|By Marketwired .||
|August 7, 2013 04:06 PM EDT||
FREMONT, CA -- (Marketwired) -- 08/07/13 -- Procera Networks, Inc. (NASDAQ: PKT), the global Internet Intelligence company, today announced it has received $4.0 million in orders, from two new European mobile operators, including a Tier 1 operator, and including an expansion order from an Asian Tier 1 mobile operator. LTE mobile operators are continuing to experience rapid subscriber growth worldwide and need the network analytics and innovative services with proven scalability that Procera can deliver. By deploying Procera's PacketLogic Intelligent Policy Enforcement (IPE) systems, these three mobile operators are taking advantage of Procera's fine-grained, subscriber-aware analytics and advanced policy-based solutions, so that they can monetize their LTE investments and maintain their subscriber's quality of service and experience. Most of the revenue from these orders was recognized in the second quarter of 2013.
"Procera solutions make it possible for mobile operators to stay in touch with current application usage trends on the latest mobile devices and then to capitalize on this Internet intelligence by creating new services that enhance subscriber experiences," said Paul Gracie, senior vice president of global sales and services at Procera. "Our momentum in growing the number of mobile operator customers that Procera serves, as well as expanding the size of existing implementations, has continued due to superior solution maturity and flexibility when LTE-focused mobile operators evaluate Procera against competitive products. Operators are discovering that the improved business model economics through proven combined policy and enforcement solutions like Revenue Express deliver a high Return on Investment."
Procera's IPE system is 3GPP-compliant and equipped with standard interfaces, allowing for scalability to support tens of millions of subscribers in 3GPP MNO networks. In conjunction with policy platform products, Procera delivers the full suite of PCC components defined by 3GPP standards including the Policy and Charging Rules Function (PCRF) and the Policy and Charging Enforcement Function (PCEF).
Revenue Express, a joint solution by Procera and Openet, is the industry's first end-to-end turnkey Policy Control and Charging (PCC) solution that includes Intelligent Policy Enforcement and analytics coupled with Policy Management functionality for mobile operators. Revenue Express was announced in June 2013.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Internet Intelligence solutions designed for carriers, service providers and enterprises worldwide. Procera's PacketLogic solutions provide actionable intelligence and policy enforcement to ensure a high quality experience for any Internet connected devices. Network operators deploy Procera's technology to enable real-time visibility, superior performance and scalability, and deliver personalized services for millions of enterprises and consumers. For more information, visit www.proceranetworks.com or follow Procera on twitter at @ProceraNetworks.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the anticipated timing of revenue recognition and the ability of the products and solutions provided by Procera Networks, Inc. to meet the requirements of advanced communications networks and achieve customer acceptance for its products. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements, including risks related to the acceptance and adoption of our products; our ability to service and upgrade our products; lengthy sales cycles and lab and field trial delays by service providers; our dependence on a limited product line; our dependence on key employees; our ability to compete in our industry with companies that are significantly larger and have greater resources; our ability to protect our intellectual property rights in a global market; our ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Procera Networks' business are set forth in our Form 10-K filed for the year ended December 31, 2012 and in subsequent filings. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.