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Friday, Oct 4, 2024

Acquisitions Paying Off for Ixia

Performance test systems manufacturer Ixia improved its earnings in 2010 helped primarily by acquisitions from the year before. Incorporating the purchase of a testing systems product line from Agilent Technologies and the purchase of Catapult Communications into Ixia’s operations was a key strategy that resulted in the desired earnings performance, company officials said. “Our success in these integration efforts allowed us to take advantage of improved market conditions in 2010,” said Ixia President and CEO Atul Bhatnagar. Much of the company’s growth came from North America, Europe, China and India, Bhatnagar said. The Calabasas-based company reported net income of $5.3 million, or $0.08 per diluted share, on revenues of $77.8 million for the quarter ending Dec. 31. For the same period in the prior year, Ixia reported a net loss of $31.3 million, or $0.50 per diluted share, on revenues of $56.1 million. For the 2010 fiscal year, Ixia had net income of $10.7 million, or $0.16 per diluted share, on revenues of $276.8 million. For the previous fiscal year, the company had a net loss of $44.2 million, or $0.70 per diluted share, on revenues of $178.0 million. The Agilent testing product line and Catapult acquisitions brought in $70 million of the revenue for 2010. Mark R. Madler

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