Bridgewater Systems' Q1 income leaps 59%

Mobile personalization company Bridgewater Systems has reported a 58.6% increase in March-quarter net profit, updating its guidance for the full year.

The company posted net earnings of $4.6 million, versus $2.9 million in the previous corresponding period. Revenue grew 74% to $24.5 million.

“Current customer engagements drove significant increases in revenues and earnings in the first quarter,” Bridgewater CEO Ed Ogonek said.

The company is now projecting revenue of $85-$94 million, and a net profit of $10-$12 million, for the full year.

"[CSPs] globally are increasingly challenged by the surge in [mobile] data traffic, which is generating growing interest in our intelligent control solutions.”

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