Bridgewater Systems Reports Record Year: Increases Revenue by 43 Percent and Accelerates Profit Growth; Company Positioned for Success and Growth in 2005.OTTAWA, Ontario -- Bridgewater Systems(TM), a leading provider of policy management solutions for dynamic IP services, today announced record revenues and acceleration in profit growth for the year ended December 31, 2004, making it the most successful year in the company's history. Year-over-year revenue grew by 43 percent, while order demand for its products rose 65 percent, pushing its overall revenue run rate beyond $20 million. Last year, the emerging growth-stage company signed 16 new customers, including market-leading service providers in the wireless, cable and DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary markets, along with the number one Mobile Virtual Network Operator A Mobile Virtual Network Operator (MVNO) is a company that provides mobile (sometimes called wireless or cellular) telephone service but does not have its own allocation of the radio frequency spectrum nor all of the infrastructure required to provide mobile telephone service. (MVNO (Mobile Virtual Network Operator) A reseller of wireless services. MVNOs do not own licensed spectrum and typically do not have any of their own wireless network infrastructure. ) and Mobile Virtual Network Enabler A Mobile Virtual Network Enabler (or MVNE) is a company that provides services to MVNOs, such as billing, network element provisioning, administration, operations, support of base station subsystems and operations support systems, and provision of back end network elements, to (MVNE MVNE Mobile Virtual Network Enabler (wireless telecommunications) MVNE Medium Voltage Neutral Earthing ) in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The company strengthened its leadership team with two appointments. Tyler Nelson, vice president of business development and marketing, joined in November 2004. Nelson was most recently vice president, global business development, with Research In Motion. Jim Ghadbane, vice president of product management, joined in September having most recently held positions with Ceyba Corporation and Alcatel Corporation in vice president and general manager roles. Both bring significant wireless and wireline market and technology knowledge to the organization. Bridgewater Systems also named Jon Shantz to its board of directors as an independent director. Shantz is highly respected throughout the communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. and adds a valuable perspective to the board. His experience includes roles as senior vice president of business development at Openwave Systems, general manager of the Mobile Business Unit of Cisco Systems, and overseeing data networking initiatives at Bell Labs and British Telecom. "With these impressive 2004 results, important management team additions and the recognition among operators for the need and importance of our solutions to deliver growth in subscriber profitability, Bridgewater Systems has moved from being a well-grounded and respected product supplier to the IP networking industry to being at the very core of the IP network value map," said Ed Ogonek, Bridgewater Systems' president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We're entering a dynamic period of growth and change. Market trends show a continued growth in mobile data and IP broadband sectors, which is great news for us. We saw positive signs with the launch of our Dynamic Broadband Management solution yielding a number of early operator trials in 2004 and demand for the solution from both wireline and wireless operators. Bridgewater Systems is well positioned to take advantage of both growth markets with scalable, carrier-grade solutions that have been proven in leading global service providers' IP networks, and a team that is committed to innovation and delivery." Based on realized and expected growth, the company also revealed that it has open positions in a number of departments, including Business Development, Product Marketing, R&D and Technical Customer Support. Interested individuals can learn more about these at www.bridgewatersystems.com/company/careers/. About Bridgewater Systems (www.bridgewatersystems.com) Bridgewater Systems provides policy management solutions for dynamic IP services. The Bridgewater Systems product suite includes its market-leading authentication, authorization and accounting (AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. ) system and a range of modular products that provide provisioning, mediation and real time management of network resources. Bridgewater Systems' proven products deliver on-demand data services, extensive revenue capture capabilities, and out-of-the-box value that can be deployed in weeks -- instead of months. Bridgewater Systems solutions are currently deployed by more than 34 global service providers, including Verizon Wireless, Bell Mobility, Virgin Mobile USA Virgin Mobile USA (NYSE: VM) is a cellular telephone company that is a joint-venture between Sir Richard Branson's Virgin Group and Sprint Nextel. Virgin Mobile USA uses Sprint's CDMA-based Personal Communications Service (PCS) network. , Covad and Telia. Founded in 1997, Bridgewater Systems is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . All companies and products listed herein are trademarks or registered trademarks of their respective holders. |
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