Waterloo, Ont.-based network technologies company Sandvine Inc. reported $25 million US in revenue for the first quarter of 2013 and profit of $1.7 million US, the company said. In a quarterly earnings statement Thursday for the company's first quarter, Sandvine said the results "represent record first quarter revenue." “The first quarter demonstrated continued progress. Revenue was up 25% from the first quarter of 2012, we were profitable, and we grew our cash balance,” Dave Caputo, the company's president and CEO, said in a statement. “Success in securing large expansion orders from major existing customers and improved results from the EMEA sales region were key business drivers in the first quarter. Both of these factors will remain important to continued success through the remainder of 2013,” he said.