CALABASAS, CA, Apr 19, 2012 (MARKETWIRE via COMTEX) –
Ixia
/quotes/zigman/84338/quotes/nls/xxia XXIA
-1.15%
today reported its financial results for the
first quarter ended March 31, 2012.
Total revenue for the 2012 first quarter was $85.6 million, compared
with $78.5 million reported for the 2011 first quarter and $83.7
million reported for the 2011 fourth quarter.
On a GAAP basis, the company recorded net income for the 2012 first
quarter of $4.4 million, or $0.06 per diluted share, compared with
net income of $7.1 million, or $0.10 per diluted share, for the 2011
first quarter.
Non-GAAP net income for the 2012 first quarter was $11.4 million, or
$0.15 per diluted share, compared with non-GAAP net income of $12.2
million, or $0.16 per diluted share, for the 2011 first quarter.
Additional non-GAAP information and a reconciliation of our non-GAAP
measures to the most directly comparable GAAP measures for the 2012
and 2011 first quarters may be found in the attached financial
tables.
“In the first quarter, we achieved record revenue primarily driven by
a robust quarter in Japan as well as the strong sales of our LTE
solutions worldwide,” commented Victor Alston, Ixia’s chief operating
officer. “We are encouraged by the strong start to the year and the
opportunities for growth we see in 2012. While we have seen increases
in the levels of our operating expenses over the last few quarters,
we believe that these investments position us well in the more
rapidly growing and promising segments of our market, including
virtualization, cloud, mobility and security test solutions for the
converged networks of the future. These investments pave the way for
Ixia to be a leader in emerging markets for the years to come.”
Ixia ended the first quarter with approximately $422 million in cash
and investments, compared with $385 million at December 31, 2011.
Conference Call and Webcast Information
Ixia will host a conference call today, at 5:00 p.m., Eastern time,
for analysts and investors to discuss its 2012 first quarter results
and its business outlook for the 2012 second quarter. Open to the
public, investors may access the call by dialing (678) 825-8347. A
live webcast of
Article source: http://www.marketwatch.com/story/ixia-announces-record-first-quarter-2012-revenue-2012-04-19