Monday, January 5, 2009

Ixia Cuts Financial Guidance

Ixia trimmed guidance for its fourth fiscal quarter ended December 31, 2008. Total revenues are expected to be in the range of $40.5 to $41.5 million, below the company's previous guidance of $44.0 to $48.0 million.

Ixia said fourth quarter 2008 revenues were impacted by lower than expected bookings from service providers in North America and Europe while bookings from government accounts were seasonally down from the immediately preceding third quarter. Fourth quarter 2008 sales to Ixia's largest account, Cisco Systems, are estimated to be approximately $7.9 million, compared to $9.2 million in the immediately preceding third quarter. Asia Pacific bookings for the fourth quarter of 2008 were at record levels driven by strong network equipment manufacturer bookings in Japan.

On a GAAP basis, Ixia expect to realize a net loss per share of $0.03 to $0.04 for the fourth quarter of 2008 as compared to the company's guidance of earnings per diluted share of breakeven to $0.03.