Ixia Reports Record Quarter

Ixia beat analyst estimates Tuesday with third-quarter results that included record U.S. revenue. The Calabasas company, which provides security software for computer networks, reported net income of $4 million (5 cents a share) for the quarter ended Sept. 30, compared to a loss of $7.3 million (-9 cents) for the same quarter a year ago. Revenue grew 10 percent to $126 million. Taking one-time events into account, the company had adjusted net income of 15 cents a share. Analysts on average expected net income of 13 cents on revenue of $124 million, according to Thomson Financial Network. “We delivered another solid quarter of year-over-year revenue and earnings growth,” Bethany Mayer, Ixia’s chief executive, said in a statement. “Our revenue growth was driven by strong market momentum across our product portfolio, particularly in the U.S. where revenue grew 25 percent year-over-year to reach a new record.” Results were announced after market close. Shares of Ixia closed down 4 cents or a fraction of a percent to $14.37 on the Nasdaq.