Ixia (XXIA) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.07. The company posted revenue of $120.10 million in the period, compared to analysts expectations of $114.12 million. The company’s revenue was down -8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on Ixia. Stifel Upgraded Ixia on Jul 26, 2016 to ” Buy”, Price Target of the shares are set at $14.
Ixia opened for trading at $11.33 and hit $11.54 on the upside on Friday, eventually ending the session at $11.5, with a gain of 1.50% or 0.17 points. The heightened volatility saw the trading volume jump to 2,92,479 shares. Company has a market cap of $940 M.
In a different news, on May 18, 2016, Brent T Novak (Chief Financial Officer) sold 808 shares at $9.66 per share price. According to the SEC, on May 18, 2016, Walker H Ii Colston (Senior V.P., Global Support) sold 78 shares at $9.66 per share price. On May 18, 2016, Christopher Lee Williams (Sr. VP, Human Resources) sold 165 shares at $9.66 per share price, according to the Form-4 filing with the securities and exchange commission.
Ixia is a provider of application performance and security resilience network test and network visibility solutions. The Company’s solutions are used by enterprises service providers network equipment manufacturers and governments. The Company’s network test and network visibility product solutions consist of hardware platforms including chassis interface cards and appliances software application tools and services including its warranty and maintenance offerings and professional services. The Company’s manufacturing and supply operations consist primarily of supply chain management procurement quality control logistics final assembly configuration testing fulfillment and logistics. The Company’s customers include Network Equipment Manufacturers (NEMs) Service Providers and Enterprises and Government.