Ixia Lowers Q1 Guidance As Revenues Drop

Delays in purchasing decisions by its customers contributed to Ixia lowering it guidance for the first quarter. Revenues are expected to be in the range of $41 million to $42 million, below the lowe end of the previous guidance of $42 million to $46 million. The company also anticipates a loss of $0.01 per diluted share. Larger than anticipated decreases in sales in Europe, North America and Canada affected first quarter revenues. The company remains confident that its business and strategy remain on sound footing, said President and CEO Atul Bhatnagar. “In some instances, however, the general turmoil in the financial markets and near term uncertainty about the economy are impacting our customers’ buying decisions and lengthening the time that they take to make purchasing decisions,” Bhatnagar said.