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Thursday, Feb 22, 2024

Ixia Net Rises, Results Disappoint

Shares in Ixia, a provider of IP network testing products, took a dive late Friday after the Calabasas-based company missed analysts’ expectations. Ixia reported net income increased over 90 percent to $9.1 million or $0.13 per diluted share for the third quarter ended Sept. 30 on revenues of $42.1 million. For the comparable period last year, Ixia reported net income of $4.7 million or $0.07 per share on revenues of $30.1 million. Analysts were expecting Ixia to earn $0.15 per share in the quarter on revenues of $42.7 million. The shortfall sent shares in the company plummeting more than 35 percent to $10.25 from an opening price on Friday of $13.90.

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