Canadian network technology company Sandvine Inc. reported a third-quarter loss of $851,000 US. In a release for its quarterly earnings for the three-month period ending Aug. 31, Sandvine reported an improvement on the $4.2 million US loss it recorded in the second quarter this year. The company reported $1.7 million US in profit for its third quarter of 2011. “While we acknowledge that more work is needed to better leverage our market opportunity, we believe that our Q3 results are an indication of progress,” Dave Caputo, Sandvine’s president and CEO, said in the release. “We received some very significant follow-on orders from Tier-1 customers, which has been our main area of focus in 2012 and will be an important aspect of returning to strong growth.” Sandvine said it posted $21.8 million US in third-quarter revenues, a 17 per cent rise from $18.6 million US in the previous quarter. The company reported $25.8 million US in revenues for its third quarter a year earlier, 15 per cent higher than the third quarter of 2012.