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Tuesday, Feb 7, 2023

Briefs: Capstone, Ixia

Capstone Turbine Corp. missed analyst forecasts for earnings and revenue in the fiscal fourth quarter The Chatsworth alternative energy company reported a net loss of $14.3 million (-5 cents a share) for the quarter ending March 31, compared with a net loss of $3.4 million (-1 cent) in the same period a year earlier. Revenue dipped 18 percent to $29.9 million. Analysts on average expected a loss of 1 cent on revenue of $35.3 million, according to Thomson Financial Network. Capstone makes natural gas-powered microturbines for the oil and gas, manufacturing, hospitality and residential markets. A downturn in the oil industry, a stronger dollar overseas and political turmoil in Russia, the Middle East and North Africa all impacted the company’s financials in the quarter and for the full fiscal year, said Chief Executive Darren Jamison. “As a result, we have taken decisive actions that ultimately have made Capstone stronger, leaner, more flexible and better positioned for growth than ever before,” Jamison said in a prepared statement. Shares closed down a penny, or just less than 2 percent, to 56 cents on the Nasdaq. Ixia has named Marie Hattar as its new chief marketing officer, the company announced Monday. In her new position, Hattar will expand marketing initiatives in software-defined networking, network functions virtualization and the Internet of Things for the Calabasas computer network performance and security software developer. “Ixia holds a pivotal role in the networking and security industry and we believe Marie’s experience in establishing, repositioning and growing market share will help accelerate Ixia’s market momentum, drive brand awareness and foster long-term growth,” Chief Executive Bethany Mayer said in a prepared statement. Prior to Ixia, Hattar worked for Check Point Software Technologies, in Tel Aviv, and Cisco Systems Inc., in San Jose. Shares closed down 46 cents, or 3.6 percent, to $12.44 on the Nasdaq.

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