Ixia announced the company is conducting an internal review of its revenue recognition that will delay releasing third quarter financial results. The review focuses on revenue recognition with respect to its software upgrade and support practices and the potential impact on the company’s previously reported financial results. The review is being conducted under the direction of the company’s Audit Committee. Ixia expects to announce its third quarter results as soon as practicable after completion of the review. “We are working to complete this work as quickly as possible, so that we can report our full financial results,” Ixia President and Chief Executive Officer Errol Ginsberg said. “Our business in the third quarter was healthy, as we achieved a sequential increase in bookings.” For the second quarter ending June 30, the company reported a net income of $296,000 on revenues of $39.9 million. Ixia is a global provider of IP performance test systems based in Calabasas.
