SOURCE: Procera Networks

November 15, 2007 08:00 ET

Procera Networks, Inc. Announces Third Quarter 2007 Financial Results

Revenues Increase Nearly 300% Year Over Year; Significant Traction Noted in APAC

LOS GATOS, CA--(Marketwire - November 15, 2007) - Procera® Networks, Inc. (AMEX: PKT), a pioneering developer of telco-class network traffic and service management infrastructure equipment today announced the results of its 10Q for the quarter ending September 30, 2007.

Procera Networks' financial highlights include continued worldwide selling traction and revenue from the PacketLogic line of traffic and service management appliances. During the quarter, the company posted a nearly 300% revenue increase over the third quarter of 2006 at $1.645 million. The quarter was marked by significant market traction in the Asia/Pacific (APAC) region, with 18 new customers. During the quarter, Procera also closed a nearly $8 million common stock offering, launched a new channel partner program, and on September 20, announced its stock would trade on the American Stock Exchange under the symbol PKT.

In a conference call held Wednesday, November 14, 2007, the company profiled recent successes in the APAC market, including the first-ever ProceraPro Partner Summit held in Macau November 8 and 9. The summit drew more than 40 attendees from more than a dozen partner companies throughout the region, including representatives from China, Taiwan, Thailand, Malaysia, Singapore, New Zealand, Korea, Indonesia, Hong Kong and the Philippines. Procera highlighted its nimble approach to signature development, the high expense of bandwidth in the region, and the early adopter tendencies of service providers in the region as key factors in the growing success in this market. Procera continues to build its management team in support of this region with the addition of David Kwon, who has many years of experience in the industry, as Korea country sales manager.

Procera also highlighted several significant wins in Europe, including StarNordic, Procera's first deployment in Norway; new channel partner Daimler Finland, which brought a significant win of 20 systems in the hospitality industry; a large Spanish mobile virtual network operator (MVNO), which has deployed Procera's PacketLogic in their 3G network; and wireless network operator SkyFi Networks in Bahrain.

The company held a conference call at 4:15 pm EST on Wednesday, November 14, 2007, a recording of which will be made available on the company's web site at www.proceranetworks.com.

About Procera Networks

Founded in 2002, Procera Networks, Inc. (AMEX: PKT) is a global provider of intelligent network traffic identification, control and service management infrastructure equipment. Procera's core product suite, the PacketLogic™ line of appliances, provides the most accurate application identification available today by using the industry leading connection identification engine DRDL™ (Datastream Recognition Definition Language). PacketLogic is deployed at more than 400 broadband service providers (xSPs), Telcos, colleges and universities worldwide. For more information, visit http://www.proceranetworks.com

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Procera to commercialize the applicable technology and introduce products and the acceptance of those products by the market, the ability of resellers to sell the Procera products, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings with the SEC (Securities and Exchange Commission) from time to time.

Procera Networks is a registered trademark, and PacketLogic and DRDL are trademarks of Procera Networks Inc. All rights reserved. All other products or brands mentioned are trademarks and/or service marks of their respective owners.

Contact Information

  • Contact Procera:

    Tom Williams
    Procera Networks, Inc.
    408.354.6208
    Email Contact

    John Liviakis (Investor Relations)
    Liviakis Financial Communications Inc.
    415.389.4670

    Evelyn Miller
    Procera Networks, Inc.
    Email Contact
    408-354-9238