Ixia Reports Q3 Earnings

Increased demand in Europe and Asia for Ixia’s key product lines contributed to the communications equipment company reporting increased income and revenues during the third quarter. The Calabasas- based company reported net income of $4.9 million, or $0.07 per diluted share for the period ended September 30, 2010. During the same quarter last year the company reported a net loss of $6.2 million, or $0.10 per share. Total revenue for the third quarter was $70.9 million, an increase of 53 percent over the $46.4 million reported for the 2009 third quarter and an increase of 7 percent over the $66.1 million reported in the immediately preceding quarter. “Continued momentum across our key product lines and increased demand in Europe and Asia resulted in our third sequential quarter of record revenue,” said Atul Bhatnagar, Ixia’s president and chief executive officer. “Our strong revenue performance coupled with continued execution of our strategy and strong operating expense discipline resulted in solid bottom-line results, including significant increases in both our operating income and earnings per share.” Ixia provides converged IP performance test systems and service verification platforms for wireless and wired infrastructures and services. Ixia’s test systems are used by network and telephony equipment manufacturers, semiconductor manufacturers, service providers, governments and enterprises to validate the performance and reliability of complex networks, devices and applications.