Amid the global recession, Bridgewater Systems chalked up revenue of C$44.2 million ($34.8 million) in 2008, up 13% from C$39.2 million ($30.9 million) in 2007.
The company disclosed that ongoing migration of 3G to 4G networks contributed around 20% of its revenue last year, as compared with only 3% the year before.
The development and successful launch of its WideSpan system also enabled it to secure a contract worth C$30 million ($23.6 million) from Verizon Wireless, plus a second order from an existing Tier 2 customer to manage mobile data growth. The company signed up 30 new customers in 2008.