Tuesday, October 27, 2009

Ixia Posts Q3 Revenue of $46.4 Million

Ixia reported Q3 2009 revenue of $46.4 million compared to $47.3 million in the 2008 third quarter. Revenues for the 2009 third quarter include $7.5 million attributable to Catapult Communications. On a GAAP basis, the company recorded a net loss for the 2009 third quarter of $6.2 million, or $0.10 per share, compared to net income of $483,000, or $0.01 per diluted share, for the 2008 third quarter.

"Ixia delivered solid revenues and executed on multiple fronts during the quarter, including the Catapult integration and the release of our next generation IxNetwork Layer 2-3 test solution," commented Atul Bhatnagar, Ixia's president and chief executive officer. "The integration of Catapult is nearly complete with unified sales and engineering teams operating effectively around the globe. In our first full quarter of operating Ixia and Catapult as one business, we experienced meaningful sequential growth in orders, both for our core wired products as well as for our wireless offerings. In addition, sales of our 10 Gigabit Ethernet products hit a new high and our Asia Pacific business rebounded nicely. On the cost side, we are starting to see some benefits from the restructuring plan announced in the second quarter and have moved quickly to realize cost synergies related to the Catapult business."http://www.ixiacom.com