FREMONT, CA--(Marketwired - May 27, 2014) - Procera Networks, Inc. (NASDAQ: PKT), the global Internet Intelligence company, today announced it has received three follow-on orders from Tier 1 broadband operators in APAC, EMEA, and LATAM totaling $3.5 million. The orders are for the continued rollout of PacketLogic™ solutions on their fixed and mobile networks to enhance the quality of experience for their subscribers. The orders include both hardware and software components that expand the operator's existing deployment of Procera solutions. This revenue is expected to be recognized in the second quarter of 2014.
"Our customers continue to gain insights from Procera's solutions that enable them to deliver a better quality of experience to their subscribers," said Paul Gracie, senior vice president of global sales and services at Procera Networks. "These operators are finding new uses for our solutions, accelerating deployments that make their services more attractive for their subscribers, and allowing them to increase revenue while reducing churn."
Procera's solutions deliver unprecedented levels of service velocity, personalization and optimization for mobile operators, providing network assurance and the rapid creation of new business models to improve monetization of their network investments. PacketLogic platforms allow operators to deliver an enhanced experience to broadband subscribers, and are powered by the PacketLogic software suite, meant for network operators to gain insights and take action on broadband traffic.
About Procera Networks, Inc.
Procera Networks, Inc. (NASDAQ: PKT) delivers Internet Intelligence solutions to service providers and network equipment manufacturers for analytics and enforcement of broadband traffic worldwide. Procera's solutions provide actionable intelligence and policy enforcement to ensure a high quality experience for any Internet and network connected device. For more information, visit http://www.proceranetworks.com or follow Procera on Twitter at @ProceraNetworks.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements related to Procera Networks, Inc., the potential applications for Procera's products, the performance of, and demand for, Procera's products, and the ability of its products to interoperate effectively with other technologies and meet the requirements of customers, and the expected timing for recognizing revenue from follow-on orders. Statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Procera's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, without limitation, risks and uncertainties related to the acceptance and adoption of Procera's products and solutions; Procera's ability to service and upgrade its products; its dependence on a limited product line and key customers; its dependence on key employees; its customers canceling orders or awards; its ability to achieve revenue recognition on awarded business; its ability to compete in its industry with companies that are significantly larger and have greater resources; its ability to protect its intellectual property rights in a global market; its ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in Procera's 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 described in the "Risk Factors" sections of its Form 10-K filed for the year ended December 31, 2013 and its Form 10-Q filed for the quarter ended March 31, 2014 and other reports filed with the SEC, which are available free of charge on the SEC's website at http://www.sec.gov or on Procera's website at http://www.proceranetworks.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this press release are based on information available to Procera as of the date hereof, and Procera undertakes no obligation to update, amend or clarify any forward-looking statement for any reason.