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Ixia – Record revenue and bookings

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Ixia (NASDAQ: XXIA) reported its financial results for the fourth quarter and year ended December 31, 2011.

Total revenue for the 2011 fourth quarter was a record $83.7 million, compared with $77.8 million reported for the 2010 fourth quarter and $77.3 million reported for the 2011 third quarter. Total revenue for the fiscal year 2011 was $308.4 million, an increase of 11 percent compared with $276.8 million reported for fiscal year 2010.

On a GAAP basis, the company recorded net income for the 2011 fourth quarter of $8.9 million, or $0.12 per diluted share, compared with net income of $5.8 million, or $0.08 per diluted share, for the 2010 fourth quarter. The company recorded GAAP net income for fiscal year 2011 of $22.9 million, or $0.32 per diluted share, compared with $11.2 million, or $0.17 per diluted share, for fiscal year 2010.


Non-GAAP net income for the 2011 fourth quarter was $13.7 million, or $0.18 per diluted share, compared with non-GAAP net income of $13.2 million, or $0.18 per diluted share, for the 2010 fourth quarter. The company recorded non-GAAP net income for fiscal year 2011 of $43.8 million, or $0.59 per diluted share, compared with $33.1 million, or $0.49 per diluted share, for fiscal year 2010.

Additional non-GAAP information and a reconciliation of our non-GAAP measures to the most directly comparable GAAP measures for the 2011 and 2010 fourth quarters and fiscal years may be found in the attached financial tables.

“Record revenue and bookings led a strong fourth quarter and finish to 2011,” commented Atul Bhatnagar, Ixia’s president and chief executive officer. “Accelerated demand for our 10G and high-speed Ethernet solutions drove growth in the quarter along with higher than expected sales of LTE and Wi-Fi testing solutions. We saw especially strong demand from equipment manufacturers and from customers in North America.

“The competitive pressure placed on equipment manufacturers, service providers and enterprises to satisfy the ever-changing, ever-increasing quality requirements of end users will continue to expand new network technologies and deployments and should increase the demand for our products,” continued Mr. Bhatnagar. “Looking ahead, we are encouraged by the opportunities we see in 2012. Our end-to-end testing and simulation solutions across IP, LTE and Wi-Fi networks address key global trends, including mobile Internet, rich-media applications and next generation network upgrades.”

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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