Wednesday, February 17, 2010

Ixia Reports Q4 Revenue of $56 Million

Ixia reported Q4 2009 revenues of $56.1 million, an increase of 37% over $41.0 million reported in the 2008 fourth quarter and an increase of 21% over the $46.4 million reported for the immediately preceding third quarter. Revenues for the 2009 fourth quarter include $6.9 million attributable to the acquisition of Agilent Technologies' N2X Data Network Testing Product line on October 30, 2009 and $6.9 million related to the acquisition of Catapult Communications in June 2009.

On a GAAP basis, Ixia recorded a net loss for the 2009 fourth quarter of $31.3 million, or $0.50 per share, compared to a net loss of $18.3 million, or $0.29 per share, for the 2008 fourth quarter. Results for the 2009 fourth quarter include a $27.6 million, or $0.44 per share, income tax charge to write-down the value of U.S. deferred tax assets.

"2009 was a pivotal year for Ixia, and the fourth quarter offered strong evidence of the success of our strategy," commented Atul Bhatnagar, Ixia's president and chief executive officer. "In the fourth quarter, we returned to sequential and year-over-year growth as core revenues increased by 9% sequentially and we got contributions from both of our acquisitions. Demand was broad-based on both a product line and geographic basis and we are cautiously optimistic that this demand will continue into 2010."

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