Ixia reported Q2 2016 second quarter revenue of $120.1 million, compared with $131.6 million reported for the 2015 second quarter and $112.7 million reported for the 2016 first quarter. On a GAAP basis, the company recorded net income for the 2016 second quarter of $1.5 million, or $0.02 per diluted share, compared with net income of $5.8 million, or $0.07 per diluted share, for the 2015 second quarter, and a net loss of $2.7 million, or $0.03 per diluted share, for the 2016 first quarter.
"In the second quarter we achieved revenue at the high-end of our guidance range and delivered solid earnings that were driven by our strong gross margin performance and continued focus on financial discipline. We also generated $25.5 million in cash flow from operations and repurchased $6.9 million of Ixia common stock," said Bethany Mayer, Ixia’s president and chief executive officer. "Leveraging technology unique to Ixia, we have continued to add new capabilities across our test, security, and visibility platforms and have brought new products to market that we believe further expand Ixia’s technology leadership over the competition.”
Ixia also announced the appointment of Patti Key as its senior vice president, global sales. Since August 2014, Key has served as the company’s vice president, sales, Americas. She joined Ixia in February 2008 as vice president, sales, East. Prior to joining Ixia, Key held several sales and marketing roles with Agilent Technologies and Hewlett Packard.