Ixia’s preliminary fourth quarter financial results beat Wall Street estimates, sending shares up more than 7 percent on Wednesday.
The Calabasas company, which sells computer network security software, reported adjusted net income of $15.6 million (19 cents a share) for the quarter, compared to adjusted earnings of $12 million (15 cents) for the same quarter a year ago. Revenue grew 5.5 percent to $127 million.
Analysts on average expected earnings of $9.9 million (12 cents), according to Thomson Financial Network.
For the full year, Ixia reported a net loss of $41.6 million (-54 cents a share), compared to net income of $11.9 million (15 cents) for the previous year. Revenue fell 1 percent to $464 million.
The company attributed its lower annual revenue to the divestiture of Net Optics, a division it sold in October 2013. Also, the company announced it will not meet the March 2 deadline for filing final results for 2014. It plans to notify regulators in a letter before the deadline.
The company announced its results after market close on Tuesday. Shares closed up 78 cents to $11.09 on the Nasdaq.
Apollo Medical Holdings Inc. posted on Wednesday significantly wider losses in its fiscal third quarter despite higher revenue.
The Glendale company, which manages doctor groups and other health delivery systems, reported a net loss of $1.4 million (-3 cents a share) for the quarter ended Dec. 31, compared to a loss of $964,792 (-2 cents) for the same quarter a year ago. Revenue grew 170 percent to $7.6 million.
No analysts follow the company.
The company did not directly explain its results, but it acquired a hospice and home health agency during the quarter.
Shares closed flat at 36 cents in over-the-counter trading.
Signature Group Holdings Inc. announced the results of its secondary offering designed to raise $55 million for an acquisition.
The Sherman Oaks investment company said that demand from existing shareholders far exceeded the offering limit of 9.6 million shares. The $6.50 a share offering closed on Feb. 20.
However, issuance of the shares is contingent on Signature completing its previously announced $525 million acquisition of the aluminum recycling operation of Aleris Corp. Signature has previously issued notes and sold an operating subsidiary to raise money for the deal.
Shares closed up a penny to $7.16 in over-the-counter trading.