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Wednesday, Apr 24, 2024

Ixia Reports Net Loss for Q2

Performance test equipment provider Ixia is still waiting for its acquisition of Catapult Communications Corp. to help the company’s financials as it posted a net loss in the second quarter. The Calabasas-based firm serving the telephony equipment and semiconductor manufacturers expects the $105 million purchase of the wireless test vendor to show some cost savings in the third and fourth quarters. “We are already integrating our sales teams and product development plans into a single unified effort,” said Atul Bhatnagar, Ixia’s president and chief executive officer. “While economic uncertainties remain, we believe that the steps we have taken position the company to develop innovative products, meet our customers’ needs, and deliver improved operating results to enhance shareholder value.” For the quarter ending June 30, Ixia had a net loss of $2.7 million, or $0.04 per diluted share, on revenues of $38.4 million. For the same period a year ago, the company had net income of $1.8 million, or $0.03 per diluted share, on revenues of $46 million. Shares in Ixia closed down at $6.87. Mark R. Madler

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