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Ixia Files Reports, Avoids Delisting

Ixia staved off potential delisting from the Nasdaq after it became current with quarterly filings with the Securities and Exchange Commission. The Calabasas computer networking software developer filed reports for the first and second quarters on late Monday after the market closed. Ixia had fallen behind with its filings after a review of its financials following the resignation last October of then-Chief Executive Walt Alston for falsifying his resume. A Nasdaq hearing panel gave the company until November to become current with quarterly reports or face delisting. “We would also like to express our gratitude to our employees who have remained focused on executing throughout the leadership transition and operational restructuring,” said Chairman and Chief Innovation Officer Errol Ginsberg in a statement that accompanied the filing. Ginsberg had served as interim chief executive until the appointment in August of former Hewlett-Packard Inc. executive Bethany Mayer to head up the company. Ixia reported a net loss of $15.1 million (-19 cents a share) for the quarter ended June 30, compared with net income of $3 million (4 cents) in the same period a year earlier. Revenue decreased 2 percent to $110 million. For the first quarter, Ixia reported a net loss of $19.5 million (-25 cents a share) for the quarter ended March 31, compared with net income of $7.8 million (10 cents) in the same period a year earlier. Revenue decreased 6 percent to $114 million. Shares closed down 4 cents, or less than 1 percent, to $9.15.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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