Profits Jump for Ixia

Ixia reported a net income gain of nearly 50 percent for the second quarter compared with a year ago. The Calabasas-based provider of performance test systems had a net income of $1.4 million, or $0.02 per diluted share, on revenues of $43 million for the quarter ending June 30. That is a 48 percent increase from the net income of $942,000, or $0.01 per diluted share, on revenues of $40 million for the same reporting period in 2006. Ixia is encouraged by the second quarter results and remains in excellent financial condition, said President and CEO Errol Ginsberg. “Bookings increased strongly from the first quarter and were at near record levels, while our non-Cisco bookings were a record, demonstrating that we continue to make progress diversifying our customer base,” Ginsberg said.