11:51 AM EST - Bridgewater Systems : reported first-quarter net profit of $2.9 million or $0.12 per share, compared to a net loss of $700,000 or $0.03 per share a year ago. Quarterly revenues surged 64 per cent to $14 million from the last year's $8.6 million. The company attributed the increase in revenues to the delivery of the Policy Controller solution with a Tier 1 mobile service provider and the delivery of the WideSpan integrated solution with Verizon Wireless and Cricket Communications. Looking ahead, for 2009, the company said it now foresees revenues in the range of $54 million - $58 million and net earnings of $7 million - $9 million, based on the strong first-quarter performance. Also the company added that the market outlook for its solutions remains positive, however, a difficult global economic environment will continue to be an overriding theme for 2009. Bridgewater Systems
shares T.BWC are trading up $0.40 at $4.65.
