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Friday, Mar 29, 2024

Ixia Repurchasing $50 Million in Stock

The Board of Directors for Ixia approved the company buying back $50 million in its common stock. The shares of the Calabasas-based provider of performance test systems will be purchased on the open market in negotiated transactions at management’s discretion. As of June, 30, the company has 68 million shares of common stock outstanding. The repurchase program is in the best interests of Ixia and its shareholders, said President and CEO Errol Ginsberg. “Our current cash balance, along with our expected future cash flow, provides us the financial flexibility and liquidity to repurchase shares, while allowing us to continue to pursue strategic growth initiatives,” Ginsberg said.

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