A record fourth quarter capped off an outstanding year for Waterloo-based Sandvine.

The company, which develops systems to securely manage traffic on the Internet, reported this week fourth-quarter revenue of $34.2 million and net income of $8.1 million. The results are in US dollars. Reported revenue and income for the same quarter in 2013 were $30.8 million and $5.6 million respectively.

Through 2014, Sandvine increased annual revenue by 16 per cent, growing from $106.5 million in 2013 to $123.4 million. Annual net income rose 78 per cent, from $12.9 million to $23 million.

"This was an excellent year for Sandvine,’’ Dave Caputo, Sandvine’s CEO, said in a news release. “We finished 2014 with record quarterly revenue. I am pleased that we managed to improve profitability for the year, while continuing to invest in our business and launch industry-leading new products like the PTS 32000.

"We won 36 new customers in 2014, saw large existing customers expand their implementations, and continued to help operators launch some of the world's most innovative new service tiers – a trend we expect will continue in 2015.”

Sandvine began as a startup in June 2001. Today it is a publicly traded leader in the management of data flow across fixed and mobile networks. It publishes the annual Global Internet Phenomena Report to keep track of such trends as the popularity of streaming and downloading entertainment.