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Tuesday, Jun 6, 2023

Briefs: Ixia, IHOP, DTS

Computer networking software developer Ixia has received a notice of non-compliance from the Nasdaq after it failed to file its quarterly earnings. The Calabasas company has a March 18 deadline to file a plan stating how it will regain compliance. In that plan, Ixia will ask for an extension to file its third quarter earnings, the company said. Ixia was late with the earnings after Chief Executive Vic Alston was forced to resign in October when it became known he had falsified his resume. Shares closed up 10 cents, or less than 1 percent, to $13.07 on the Nasdaq exchange. The International House of Pancakes (IHOP) LLC opened the doors Monday on its first restaurant in Bahrain. The restaurant chain, operated by DineEquity Inc. of Glendale, has opened five other locations in the Middle East since 2012 as part of a franchise agreement with international franchise operator M.H. Alshaya Co. IHOP restaurants are currently operating in Dubai, Kuwait and Saudia Arabia. Plans are underway for openings in Lebanon, Qatar, Oman and Egypt. “It has been very exciting to see our brand continue to build and expand its presence in the Middle East and to be able to bring our famous great service and food to a steadily growing list of countries in the region,” said DineEquity Chairwoman and Chief Executive Julia Stewart in a statement. Under IHOP’s agreement with Alshaya, a total of 40 developments will be established in the Middle East and North Africa. DTS Inc. posted fourth quarter results on Monday that fell short of analysts’ revenue estimates but exceeded them for net income. The Calabasas audio technology company reported net income of 17.3 million (96 cents a share) for the quarter ended Dec. 31, compared with a net loss of $102,000 (-1 cent) in the same period a year earlier. Revenue increased 25 percent to $37.1 million. Analysts estimated earnings of 49 cents on revenue of $41.6 million, according to Thomson Financial Network. Shares closed up 22 cents, or just more than 1 percent, to $21.21 on the Nasdaq.

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