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Friday, Apr 26, 2024

Ixia Beats Delisting Bullet

Ixia received notice of continued listing on the Nasdaq Stock Market subject to two conditions, the company has announced. Calabasas-based Ixia faced a delisting by the Nasdaq because it was late in filing its earning report for the third quarter ending Sept. 30. The performance test systems manufacturing company will continue to be listed subject to providing that it provide information by Feb. 28 about an investigation by its Audit Committee into its software upgrade and support practices; and file it earning reports for the third quarter 2006 by March 16. The company is working closely with the Audit Committee to complete the investigation, now in it final stages, said Ixia President and CEO Errol Ginsberg. “We also continue to work diligently to complete the restatements as soon as possible,” Ginsberg said. “I am pleased to report that demand for our products in the fourth quarter remained healthy, and resulted in a sequential increase in bookings.”

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