Ixia Income Drops in Second Quarter

Test systems manufacturer Ixia saw a drop in its second quarter income compared with the same reporting period from the previous year. The Calabasas company reported a net income of $300,000 or $0.00 per diluted share on net revenues of $39.9 million for the quarter ending June 30. That is a significant drop in the $9.8 million in net income or $0.14 per diluted share on net revenues of $41.3 million for the same quarter from 2005. For the six month period ending June 30, Ixia reported net income of $785,000 or $0.01 per diluted share on revenues of $78.7 million. That is a decrease from last year, when the company reported net income of $19 million or $0.28 per diluted share on revenues of $79.7 million. Ixia President and Chief Executive Officer Errol Ginsberg said the second quarter results reflected some positive trends for the company, including the addition of 85 new customers and diversifying the customer base. “Our government and enterprise business showed strong growth due to increased military spending and some renewed investment by enterprise customers,” Ginsberg said. “Geographically, we saw strong demand in Europe, the Middle East and Asia and a record quarter in the China region, which includes Taiwan.” Ixia is a provider of test systems for IP-based infrastructure and services used by network and telephony equipment manufacturers, semiconductor manufacturers, service providers and governments.