Company and Executives Charged with Financial Reporting Violations

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23741 / February 3, 2017

Accounting and Auditing Enforcement Release No. 3858 / February 3, 2017

Securities and Exchange Commission v. Thomas Miller and William Liang, Civil Action No. 17-cv-00897 (C.D. Cal. filed Feb.2, 2017)

In the Matter of Ixia and Victor Alston, Administrative Procedure File No. 3-17825 (Feb. 3, 2017)

Company and Executives Charged with Financial Reporting Violations

The Securities and Exchange Commission today charged two former executives of a computer network testing company with violations related to their financial reporting obligations to investors.

The SEC's complaint, filed in federal court in Los Angeles, alleges that the former CFO and director of accounting at Calabasas, California-based Ixia, Thomas Miller and William Liang, participated in a scheme to prematurely recognize certain revenues and concealed the improper revenue recognition practice from the company's auditors. The SEC's complaint charges Miller and Liang with violating Exchange Act Sections 13(b)(5) and Rules 13b2-1 and 13b2-2, aiding and abetting Ixia's violations of Exchange Act Sections 13(b)(2)(A) and (B), and Miller for violating Exchange Act Rule 13a-14. The SEC's complaint seeks financial penalties and permanent injunctive relief against Miller and Liang.

The SEC separately announced settled administrative proceedings against Ixia and Victor Alston, Ixia's former CEO, arising from the same alleged misconduct.

The SEC's order finds that Victor Alston, who was elevated to top executive at Calabasas, Calif.-based Ixia in 2012, made changes in the company's revenue and other financial metrics in an effort to meet market expectations. Alston ordered changes to Ixia's practice of deferring revenue recognition from its sales of software combined with training and professional services until the customer actually received the training or other services, which often occurred many months after the sale.

According to the SEC's order, Alston issued a directive to split artificially the software and the professional services into separate purchase orders, which gave the false appearance that customers were buying Ixia's professional services in stand-alone sales rather than as components of the software sales. This allowed Ixia improperly to recognize software revenues earlier than allowed under Generally Accepted Accounting Principles (GAAP) and the company's own stated revenue recognition policy.

The SEC's order further finds that the practice of splitting purchase orders exploited a material weakness in the company's internal controls over financial reporting (ICFR) that was concealed from investors and Ixia's outside auditors. As CEO, Alston was obligated to disclose material weaknesses in Ixia's 2012 annual report but failed to do so. Similarly, he wasn't truthful in his periodic representation letter to Ixia's auditors.

Without admitting or denying the findings, Ixia consented to the SEC's order alleging violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934 and Rules 12b-20 and 13a-1 thereunder and agreed to pay a $750,000 penalty. Alston, without admitting or denying the findings, consented to the SEC order alleging violations of Section 17(a)(3) of the Securities Act of 1933 and Exchange Act Sections 10(b) and 13(b)(5) and Rules 10b-5(b), 10b-5(c), 13b2-1, 13b2-2, and 13a-14 thereunder, causing Ixia's violations, and agreed to a five-year officer-and-director bar and payment of a $100,000 penalty.

The SEC's investigation was conducted by Jason P. Lee and Dora Zaldivar and supervised by Finola H. Manvelian and John Berry of the Los Angeles office. The SEC's litigation will be led by Gary Y. Leung.

SEC Complaint
https://www.sec.gov/litigation/complaints/2017/comp23741.pdf


http://www.sec.gov/litigation/litreleases/2017/lr23741.htm

Microsoft Selects Ixia to Ensure Lync Application Reliability on Mobile Devices
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Ixia to assess and validate customer quality and reliability of the Microsoft Lync unified communication platform on smartphones and tablets

Ixia (Nasdaq: XXIA) announced that it has been selected by Microsoft as the official provider to qualify mobile devices for use with Microsoft’s Lync application. The expanding use of mission-critical applications encompassing voice, video and messaging is placing increased strain on mobile devices, while at the same time, customer expectations for quality are rising. Ixia’s Wi-Fi device qualification includes rigorous testing in real-world scenarios to ensure that smartphones, tablets and laptops perform as expected when running Microsoft Lync.

News highlights

As a unified communications (UC) platform that provides a single client experience for instant messaging, voice and video chat, Microsoft Lync helps foster collaboration across global enterprise workforces. However, with the explosion of the “bring your own device” (BYOD) trend, applications such as Lync are increasingly being used on mobile devices instead of on desktops. This, coupled with high quality expectations from enterprise users, means manufacturers must be sure that new mobile devices perform as needed.

Microsoft and Ixia are collaborating to test and qualify mobile devices for Microsoft Lync applications using the Ixia Wi-Fi mobile device test solution. As the official testing house for the complete Microsoft Lync Wi-Fi ecosystem, Ixia works directly with Microsoft partners to test and qualify technology used with the UC system following a proven process:

Over a one-week timeframe, Ixia uses its VeriWave solution to create real-world conditions by emulating a full range of scalable, media-rich application traffic and measuring performance, roaming capabilities, interoperability, and more.
Once testing is complete, Ixia delivers a qualification report to Microsoft and the technology partner with performance, security and reliability findings. Based on this report, Microsoft determines whether the technology is qualified for use with the Lync platform.
As a result, Microsoft now has confidence that Lync users will receive high-quality UC services, which equates to an increase in adoption of the powerful and essential collaboration tool.
During the past year, Ixia has worked as the official test house to qualify Microsoft’s Lync application against Wi-Fi networking devices, such as Wi-Fi access points, and has worked directly with Microsoft partners to test and qualify the technology used with the system.

Industry commentary

“Enterprise collaboration tools have become a critical part of today’s working culture, and with the rise of BYOD, a good experience on mobile devices is essential,” said Todd Haugen, Group Manager of Skype Wi-Fi at Microsoft. “Microsoft is driven to ensure our customers have the quality Lync experience they expect, and working with Ixia to qualify the Lync ecosystem – starting with Wi-Fi network devices and now with the associated mobile devices - accomplishes this goal.”

“Mobile usage is growing exponentially with more and more users depending on mobile devices to connect to and use mission-critical tools such as Microsoft’s Lync collaboration suite,” said Joseph Zeto, Director of Product Marketing for Ixia. “Quality of Experience is no longer a ‘nice to have,’ as enterprises and individual users rely on mobile devices to work anywhere and anytime. Working with Microsoft and mobile device manufacturers, Ixia is helping to prepare today’s devices for tomorrow’s applications.”

Forbes Names Ixia One of the Fastest Growing Tech Companies
Ixia ranks No. 14 on the annual list of 25 top growing technology companies, recognizing its mission to help customers deliver an always-on user experience

CALABASAS, Calif., Jun 11, 2013 (BUSINESS WIRE) --

Ixia XXIA +1.36% was recently named No. 14 on Forbes magazine's annual list of "America's Fastest Growing Tech Companies." With its expanded product offerings and addressable markets, as well as its acquisitions of Anue Systems and BreakingPoint Systems, Ixia has evolved to provide comprehensive solutions that test, assess and monitor the health of enterprise and service provider networks.

"We are thrilled to be included on the list of 'America's Fastest Growing Tech Companies,' and we look forward to seeing this continued growth as we expand our offerings to help customers deliver an always-on user experience," said Vic Alston, President and CEO of Ixia. "This is a direct result of the commitment and dedication of our employees across the globe who create innovative technologies and offer the stellar service that continues to help Ixia grow and evolve."

Ixia's strong history of excellence in network assessment and testing was bolstered with the 2012 additions of Anue Systems' ability to provide visibility into physical and virtual networks and BreakingPoint Systems' capability to battle-test networks for vulnerabilities. Ixia continues to expand with innovative solutions that give its customers the actionable insights needed to validate and harden their networks.

To determine the "America's Fastest Growing Tech Companies" list, Forbes researched more than 2,100 publicly traded tech firms, selecting only profitable firms with a minimum revenue of $150 million and a market cap of at least $500 million. Companies honored on the list all have sales growth of at least 10 percent for each of the past three fiscal years and over the last 12 months, as well as estimated earnings growth above 10 percent over the next three to five years. The list is then ranked by three-year average sales growth rate.

About Ixia

Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic, connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments. Learn more at http://www.ixiacom.com.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130611005398r1&sid=cmtx6&distro=nx

SOURCE: Ixia
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XXIA

I realize the advanced network evaluation Ixia, by analysis information highly convenient practical

Date: 05/29/2013 @ 11:00 PM
Source: Business Wire
Today: Thursday 30 May 2013


Today, is a new solution to improve the resiliency and verification power of the corporate network using virtualization technology on-premise and (premises) is Ixia - (Business Wire) (XXIA Headquarters: California Calabasas, Nasdaq) I announced the IxNetwork AppLibrary and RackSim ™. RackSim of Ixia like no other, is the industry's first solution that can be simulated in a single appliance complex virtualization server group that is installed in a rack in the data center. In addition, the combination of stateless traffic and protocol in real world applications, IxNetwork AppLibrary will be able to implement comprehensive than ever a test of the network infrastructure.

The highlight of today's announcement

To improve the flexibility and efficiency of the data center, but because the complexity and workload of network infrastructure and server architecture also increase, a new burden will be generated at that both sides virtualization. Conventionally, in order to fully simulate the virtualization server group to be mounted in a rack, enterprises and service providers, equipment manufacturers, was using a difficult server and configuration management high cost. However, if you take advantage of the new RackSim, equipment manufacturers and cloud providers, and companies, allows you to do the following.

Verification management provisioning, resource optimization, simplified mobility of workloads in virtualized data centers, shared services, dynamic, testing and disaster recovery
Implementation of the work, including the migration of virtual machines and spin up a virtual machine
Simulation hyper Bailly, virtual machine, and application traffic
Further, since the company is facing a severe traffic load than ever before, that the network can withstand the increase in traffic will be extremely important. By AppLibrary is applied to IxNetwork solution, because customers will be able to simulate together a number of traffic, you will be able to operate their networks with confidence. In the cloud network, which is especially important in achieving optimized network-wide at the time of provisioning. If you take advantage of the IxNetwork AppLibrary, as well as to improve the prediction accuracy for that, customers will be able to:.

By examining the combination of more accurate traffic on a network that emulated Improved decision making conditions grasped
The available comprehensive library of the latest application of simulation in the real world
You can configure the application load distribution deterministic, to accurately emulate the traffic scenario in the real environment
Real-time comprehensive analysis of each application flow, get the analysis practical information
Comment

Derek Guranasu of product management senior director of Extreme Networks (Derek Granath) said, says the following. It provides unique features for testing the cloud infrastructure by simulating the virtualized data center many servers, RackSim of "Ixia, addresses the explicit needs of industry are having in the IT business. If you simulate a variety of applications in a real environment by utilizing the IxNetwork AppLibrary, you will be able to help you meet to ensure that the needs of our customers are having with respect to performance and scale of interconnection "

Michael Ho, senior market development manager at Ixia (Michael Haugh), said as follows. that "companies will be able to run the business with confidence in Article harsh in-house network is extremely important. including IxNetwork AppLibrary and RackSim is a new product, Ixia is committed to innovation and consistently . analysis information by practical Ixia provides, Yu will be able to enjoy the experience that is not always online "

Ixia were displayed and these technologies at the booth of our partners and 1951 booth Interop 2013 Las Vegas. For more information about the exhibition place of Ixia in 2013 Interop, please visit our website.

About Ixia

From Ken plant level, to optimize the data center and network leading network, to the cloud, speed of delivery of services and applications, security protection, and solutions of Ixia, that delivers enhanced. Network of high importance, data centers, applications, and Ixia, is the industry's only solution that provides full visibility into service. Ixia provides useful information through the solutions the private sector, service providers, government agencies, and to equipment manufacturers, test, evaluation, and to optimize the network. In order to deliver quickly and reliably the application, solutions of Ixia, will provide useful data that can help to predict network performance. As a result, customers can be confident that has a repair force mobility and their network is and is managed properly. More information on Ixia, (Japanese site: http://www.ixiacom.jp) www.ixiacom.com refer to.

* Logo petal four of Ixia Ixia and the (four-petal) are registered trademarks or trademarks of Ixia. All other trademarks are the property of their respective owners.

Official version of this press release is the original language version. It has been supplied solely for the convenience of the reader, translation language version, has no legal effect. When you wish to use as article translation language version, we ask that you do against the original language version is the only version that has legal effect.

(translated by Google)

XXIA

What's Next in Next-Generation Firewalls and Testing: High Performance Network Protection Without Compromise

Date : 05/23/2013 @ 9:00AM
Source : Marketwired

Who:

Presenters from Fortinet (NASDAQ: FTNT) and Ixia (NASDAQ: XXIA).

What:

Advanced targeted attacks, botnets, hackers, sophisticated malware -- see what happens when Fortinet challenges the latest real-world application threats and advanced attacks as demonstrated via Ixia BreakingPoint. Seminar attendees will gain valuable insights, including:

How to identify security product bottlenecks in relation to network infrastructure performance;
How to knowledgably evaluate NGFW performance and capacity;
How to proactively test performance, capacity and stability of infrastructure elements;
How to protect corporate networks against advanced targeted attacks;
and more!
When:

May 23 - June 20

Where:

The seminar will be presented in the following cities:

May 23 - San Mateo
May 31 - Anaheim
June 3 - Boston
June 4 - Reston, VA
June 5 - New York
June 11 - Atlanta
June 12 - Raleigh
June 13 - Dallas
June 18 - Chicago
June 19 - Denver
June 20 - Kansas City, KS
June 20 - Ottawa

How:

To register, go to: http://www.fortinet.com/events/next-generation-firewall-security-seminars.html

About Fortinet, Inc.

Fortinet (NASDAQ: FTNT) is a worldwide provider of network security appliances and a market leader in unified threat management (UTM). Our products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the IT security infrastructure. Our customers include enterprises, service providers and government entities worldwide, including the majority of the 2012 Fortune Global 100. Fortinet's flagship FortiGate product delivers ASIC-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. Fortinet's broad product line goes beyond UTM to help secure the extended enterprise - from endpoints, to the perimeter and the core, including databases and applications. Fortinet is headquartered in Sunnyvale, Calif., with offices around the world.

Copyright © 2013 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiAP, FortiDB, FortiVoice and FortiWeb. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties, and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, binding specification or other binding commitment by Fortinet, and performance and other specification information herein may be unique to certain environments. This news release may contain forward-looking statements that involve uncertainties and assumptions. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements.

Press Contacts:

Rick Popko

Fortinet

408-486-7853

rpopko@fortinet.com
____________________________________________________________
http://ih.advfn.com/p.php?pid=nmona&article=57703127

XXIA

Ixia Helps Contact Centers Improve Customer Service With Increased Network Reliability

New Ixia Chariot Contact Center solution proactively validates and hardens critical customer service infrastructure to prepare for peak seasons and the inevitable TDoS attack

May. 14, 2013 08:47 AM
CALABASAS, Calif. --

Ixia (Nasdaq: XXIA) now offers a solution to validate and harden the critical infrastructures of enterprise contact centers, which continues to grow in importance during the age of social media and an always-on environment. The new Ixia Chariot Contact Center, based on the award-winning IxChariot network assessment technology, enables enterprises to proactively assess the performance, scalability and security of their IP communications infrastructures at any load.

Poor customer service experiences can quickly turn viral and damage a company’s reputation, and untested infrastructures along with the effects of increasing targeted telephony denial of service (TDoS) attacks can lead to significant losses of loyal customers and sales. The Chariot Contact Center solution’s fast, easy-to-use testing validates the reliability of contact center networks and mitigates current infrastructure concerns. The resulting actionable insights enable an enterprise to know, not guess, how the contact center will respond during the most important customer engagement seasons and the times most vulnerable to malicious attacks.

Traditionally, enterprise contact center managers have not had the necessary tools to actively test how their infrastructures will hold up under real-world conditions, and capacity testing was largely ignored. Sporadic testing coupled with the increasing use of TDoS attacks meant that costly downtime was inevitable. Now, with the Chariot Contact Center solution, within minutes enterprises can create a call tree of any volume and run multiple simulated scenarios to assess and validate the contact center network’s reliability.

The powerful Ixia Chariot Contact Center solution offers an intuitive web-based user interface with drop-downs and form-fills that use common call center terms to guide users through test case creation, deployment and reporting. Providing medium to massive-scale, high-fidelity simulations of protocols and caller traffic, the solution combines the needed capabilities to:

Validate IVR menus.
Test automatic call distributors.
Model contact center traffic.
Verify emergency call systems and robot calls.
Validate threat-blocking policies.
Measure quality of experience.
The Ixia Chariot Contact Center solution gives enterprises the confidence that critical communications infrastructures will handle heavy call loads, route calls as expected and maintain exceptional voice quality.

Industry commentary

“SecureLogix helps protect many contact center environments from TDoS attacks, which involve burst calls meant to flood and overwhelm corporate voice resources,” said David Heard, SecureLogix Vice President of Product Management and Marketing. “Ixia’s solutions are an important component of TDoS prevention, allowing an enterprise to stress-test its infrastructure, profile its vulnerability level to TDoS and better ensure business continuity.”

“The enterprise contact center infrastructure is becoming more complex even as the importance of stellar customer service continues to grow. Fortunately, Ixia was able to leverage its core technology expertise to develop a solution that easily tests and assesses the quality of experience in the network to help enterprises maintain superior customer contact centers with rock-solid network infrastructures,” said Don Shin, Sr. Product Marketing Manager of Ixia. “By providing an easy-to-use way of validating critical customer service infrastructures at load, Ixia’s Chariot Contact Center solution answers a growing and important need for today’s enterprises.”

Ixia will unveil the Chariot Contact Center solution in booth No. 239 at the premier global gathering for the contact center, ACCE 2013, taking place in Seattle, WA, May 13-15.

About Ixia

Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia’s customers benefit from faster time to market, optimized application performance and higher-quality deployments. Learn more at http://www.ixiacom.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130514005687/en/

Slowly moving back up:



XXIA

Why Ixia Shares Slumped

By Jeremy Bowman | More Articles | Save For Later
May 1, 2013 | Comments (0)

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Internet specialist Ixia (NASDAQ: XXIA ) were getting booted out of investors' portfolios today, falling as much as 13% after a disappointing earnings report.

So what: Ixia's numbers were actually pretty strong on the surface, as revenue was up 43%, though all of that growth came from acquisitions. Without the addition of Anue Systems and BreakingPoint Systems last year, sales actually declined 2%. Adjusted earnings per share also beat estimates by $0.03, coming in at $0.25.

Now what: The market seems to be punishing Ixia for the drop in organic revenue, and management admitted to seeing a slowdown from some equipment manufacturer deals. Still, the company expects growth in its core business to increase 7% sequentially in the current quarter, and the stronger-than-expected growth from its acquisition should also not be overlooked. Given the growth potential there, Ixia looks like it should be able to bounce back.

Don't miss the next update on Ixia. Add the company to your Watchlist here.
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http://www.fool.com/investing/general/2013/05/01/why-ixia-shares-slumped.aspx

XXIA

Ixia Management Discusses Q1 2013 Results - Earnings Call Transcript

Apr 30 2013, 20:40 | about: XXIA

Ixia (XXIA) Q1 2013 Earnings Call April 30, 2013 5:00 PM ET

Operator

Good afternoon. I will be your conference operator. At this time, I'd like to welcome everyone to Ixia's First Quarter 2013 Earnings Conference Call. [Operator Instructions] Please note that this call is being recorded. I'll now turn the call over to Mr. Brent Novak, Ixia's Vice President of Finance. Mr. Novak, you may begin.

Brent Novak
Good afternoon, and thank you for joining us on today's conference call to discuss Ixia's 2013 first quarter results.

This call is also being broadcast live over the web and can be accessed on the Investor Relations section of Ixia's website at www.ixiacom.com for 90 days.

With me on today's call are Vic Alston, Ixia's President and Chief Executive Officer; and Tom Miller, Ixia's Chief Financial Officer.

After the market closed today, Ixia issued a press release reporting the results for its 2013 first quarter. We'd like to remind you that during the course of this conference call, Ixia's management may make forward-looking statements including, without limitation, statements regarding the acquisitions of Anue Systems and BreakingPoint Systems; financial projections; statements as to the plans and objectives of management for future operations and statements as to the company's future economic performance, financial condition or results of operations.

These forward-looking statements are not historical facts, but rather, are based on the company's current expectations and beliefs. Words such as may, will, could, should, would, expects, intends, plans, projects, believes, seeks, estimates and variations of these words are intended to identify forward-looking statements. The company's future results may differ materially from those projected in these forward-looking statements.

With that, I would like to turn the call over to our President and Chief Executive Officer, Vic Alston.

Victor Alston - Chief Executive Officer, President and Director

(continues for 4 pages)
________________________________________________________
http://seekingalpha.com/article/1387211-ixia-management-discusses-q1-2013-results-earnings-call-transcript?source=email_rt_article_readmore

XXIA

Ixia (XXIA) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

April 30th, 2013 - 0 comments - Filed Under - by Trevor Kearing

Ixia (NASDAQ: XXIA) announced its earnings results on Tuesday. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.03, ARN reports. The company had revenue of $122.80 million for the quarter, compared to the consensus estimate of $122.41 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 41.6% on a year-over-year basis.

A number of analysts have recently weighed in on XXIA shares. Analysts at Deutsche Bank raised their price target on shares of Ixia from $18.00 to $24.00 in a research note to investors on Friday, March 8th. They now have a “buy” rating on the stock. On the ratings front, analysts at Stifel Nicolaus raised their price target on shares of Ixia to $24.00 in a research note to investors on Thursday, February 7th.

Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.00.

Ixia (NASDAQ: XXIA) traded up 1.98% on Tuesday, hitting $16.47. Ixia has a 52-week low of $9.95 and a 52-week high of $22.50. The stock’s 50-day moving average is currently $19.83. The company has a market cap of $1.239 billion and a price-to-earnings ratio of 27.37.

Ixia is a provider of converged test systems and services for wireless and wired infrastructures and services.
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http://www.dailypolitical.com/finance/stock-market/ixia-xxia-posts-quarterly-earnings-results-beats-expectations-by-0-03-eps.htm

XXIA

Beats by $0.03, revenues in-line:

Ixia Announces First Quarter Financial Results

Tue April 30, 2013 4:03 PM | about: XXIA

CALABASAS, Calif.--(BUSINESS WIRE)--

Ixia (XXIA) today reported its financial results for the first quarter ended March 31, 2013.

Total revenue for the 2013 first quarter was $122.8 million, compared with $86.7 million reported for the 2012 first quarter. The 2013 first quarter includes $38.4 million in revenue from the recent acquisitions of Anue Systems, Inc. (Anue) and BreakingPoint Systems (BreakingPoint), which closed in June and August 2012, respectively.

On a GAAP basis, the company recorded net income for the 2013 first quarter of $8.1 million, or $0.11 per diluted share, compared with net income of $5.2 million, or $0.07 per diluted share, for the 2012 first quarter. Non-GAAP net income for the 2013 first quarter was $20.3 million, or $0.25 per diluted share, compared with non-GAAP net income of $12.2 million, or $0.16 per diluted share, for the 2012 first quarter.

Additional non-GAAP information and a reconciliation of our non-GAAP measures to the most directly comparable GAAP measures for the 2013 and 2012 first quarters may be found in the attached financial tables.

The first quarter was a solid start to the year, with good momentum from our mobility and data center solutions, commented Vic Alston, Ixia's president and chief executive officer. Service provider revenue was at a record level in the quarter as our customers continue to rollout their next generation mobile networks. Revenue from Anue and BreakingPoint grew on a combined basis over 70 percent from the first quarter of last year.

Alston continued, The fundamental dynamics driving our markets remain strong. Our customers are rapidly moving to mobile networks, virtual data centers and hybrid cloud environments to deliver next generation applications. We believe these market trends will continue to drive demand for Ixias mobility, security and data center solutions and that we are well positioned for long-term growth.

Ixia ended the 2013 first quarter with approximately $208 million in cash, cash equivalents and investments, compared with $177 million at December 31, 2012.

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 2013 first quarter results and its business outlook for the 2013 second quarter. Open to the public, investors may access the call by dialing (678) 825-8347. A live webcast of the conference call, along with supplemental financial information, will be accessible from the "Investors" section of Ixia's web site (www.ixiacom.com). Following the live webcast, an archived version will be available in the "Investors" section on the Ixia web site for 90 days.

Non-GAAP Information

To supplement our consolidated financial results prepared in accordance with Generally Accepted Accounting Principles ("GAAP"), we have included certain non-GAAP financial measures in this press release and in the attachments hereto. Specifically, we have provided non-GAAP financial measures (i.e., non-GAAP income from operations, non-GAAP net income, and non-GAAP diluted earnings per share) that exclude certain non-cash and/or non-recurring income and expense items such as proceeds and expenses from certain legal and contractual settlements, expenses incurred as part of our restatement of certain previously filed financial statements, stock-based compensation expenses, acquisition and other related costs, restructuring expenses, the amortization of acquisition-related intangible assets, and the related income tax effects of these items, as well as certain other non-cash income tax impacts such as changes in the valuation allowance recorded against certain deferred tax assets. The aforementioned items represent income and expense items that may be difficult to estimate from period to period and/or that we believe are not directly attributable to the underlying performance of our business operations. These non-GAAP financial measures are provided to enhance the user's overall understanding of our financial performance. We believe that by excluding these items, our non-GAAP measures provide supplemental information to both management and investors that is useful in assessing our core operating performance, in evaluating our ongoing business operations and in comparing our results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to plan and forecast future periods and to assist in making operating and strategic decisions. The presentation of this additional information is not prepared in accordance with GAAP. The information therefore may not necessarily be comparable to that of other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Investors are encouraged to review the reconciliations of GAAP to non-GAAP financial measures which are included below in the attached financial tables.

About Ixia

From the lab to the network to the cloud, Ixia solutions optimize networks and data centers to accelerate, secure and scale the delivery of applications and services. Ixia delivers the industry's only solution with complete visibility into critical network, data center, applications and services. Ixia provides actionable insight for enterprises, service providers, government agencies and equipment manufacturers with solutions that test, assess and optimize networks. Ixia solutions use predictive data to accelerate and secure application and service delivery, giving customers the confidence to know their business networks are engineered to be understandable, dynamic and resilient. For more information, please visit www.ixiacom.com.

Safe Harbor Under the Private Securities Litigation Reform Act of 1995:

Certain statements made in this press release are forward-looking statements, including, without limitation, statements regarding growth, profitability, financial performance and future business. In some cases, such forward-looking statements can be identified by terms such as may, will, should, expect, plan, believe, estimate, predict or the like. Such statements reflect our current intent, belief and expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that may cause future results to differ materially from our current expectations include the risk that the anticipated benefits and synergies of our recent acquisitions of Anue and BreakingPoint will not be realized, changes in the global economy, competition, consistency of orders from significant customers, our success in developing and producing new products, market acceptance of our products, war, terrorism, political unrest, natural disasters and other circumstances that could, among other consequences, reduce the demand for our products, disrupt our supply chain and/or impact the delivery of our products. Such factors also include those identified in our Annual Report on Form 10-K for the year ended December 31, 2012, and in our other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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http://seekingalpha.com/news-article/6394241-ixia-announces-first-quarter-financial-results

XXIA

Ixia Earnings Preview: Get Ahead of the Analysts

By Derek Hoffman | More Articles
April 29, 2013

Ixia (NASDAQ:XXIA) will report earnings after markets close on Tuesday, April 30th. Ixia provides high speed, multi-port network performance analysis systems. The Company’s systems generate and analyze data traffic, including voice over Internet protocol traffic.

Here is your Cheat Sheet to Ixia Earnings:

Earnings Expectations: Analysts expect earnings of $0.22 per share on revenues of $122.18 million. Currently, the company’s P/E ratio stands at 27.95.

Analyst Trends:

Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.22 to a profit $0.24. For the current year, the average estimate is a profit of $1, which is better than the estimate ninety days ago.

Earnings Trends:

Here’s how Ixia has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 175.87 177.99 278.51 311.37 413.43
Diluted EPS ($) -0.24 -0.70 0.19 0.37 0.59
Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 86.66 85.64 92.34 109.55 125.90
Diluted EPS ($) 0.1767 0.06 0.33 0.15 0.0329
Past Performance:
Ixia has beat analyst estimates 3 times in the past four quarters. Shareholders could expect a boost if the company beats estimates.

“E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our successful CHEAT SHEET investing framework. Don’t waste another minute – click here to discover our CHEAT SHEET stock picks now!
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http://wallstcheatsheet.com/stocks/ixia-earnings-preview-get-ahead-of-the-analysts.html/

XXIA

Ixia Delivers Advanced 100GbE Visibility Solution for Service Providers and Large Enterprises

Advancements of Anue Net Tool Optimizer support 100GbE network backbone, enhances visibility into high-speed networks

CALABASAS, Calif.--(BUSINESS WIRE)--April 22, 2013--

Ixia (Nasdaq: XXIA) has further advanced its award-winning Ixia Anue Net Tool Optimizer(R) (NTO) solutions, which substantially extend actionable insight into complex, high-speed service provider and enterprise data center networks. Networks continue to expand in complexity, scale and bandwidth with the exponential growth of data traffic from mobile devices and applications. As service providers and enterprises roll out 100GbE networks, they need visibility solutions that provide the actionable insight required to meet performance expectations.

The Anue NTO provides complete network visibility into physical and virtual networks and allows large enterprises and mobile carriers to monitor the increasing number of 100GbE network ports with existing 1, 10 and 40GbE monitoring tools. The NTO 100GbE provides investment protection by ensuring that lower bandwidth monitoring tools can connect to higher-speed backbones. The release of the Network Visibility Operating System (NVOS) v3.8 and the 100GbE Interface Module supports new capabilities that improve forensic analysis capabilities, advance application performance monitoring and simplify security monitoring of 100GbE networks. This multi-speed monitoring capability helps companies preserve their previous investments in network visibility tools.

News highlights

An insatiable appetite for bandwidth is driving the need for higher-performance and highly secure networks. As the next generation of Ixia's industry-leading Anue NTO line of network monitoring switches, the new 100GbE interface module and NVOS provide unprecedented visibility into high-capacity network environments. Additionally, the advanced features improve the ability to perform sophisticated data analysis, which boosts critical operational efficiencies.

With these advancements, Ixia enables users to safeguard the integrity of their networks by providing:

-- Speed matching: The new 100GbE Interface Module and NVOS update protect
monitoring tool investments by enabling users to perform packet-level
monitoring of 100GbE networks at full line rate, utilizing existing 1, 10
and 40GbE monitoring tools. Up to four 100GbE interface modules can be
supported on one high-density Anue NTO device, or may be combined with 1,
10 or 40GbE ports in a single 2RU chassis.

-- Greater monitoring scalability: Ixia supports the industry's largest load
balancing capacity for monitoring, analysis and security tools by
enabling the use of limited-bandwidth monitoring tools in high-capacity
environments. Customers managing 100GbE and other high-bandwidth networks
can effectively distribute and balance traffic across 32 individual tools
ensuring that each is not overwhelmed or under-utilized.

-- Improved forensic analysis capabilities: A new port-tagging feature on
NVOS v3.8 tags data packets upon ingress to the Anue NTO. In conjunction
with existing precision time stamping features, this allows users to
retain critical visibility into network events from a large number of
monitored network segments.

-- Simple visual management: Powered by the simple yet powerful interface of
the Anue NTO, users can easily configure and monitor 100GbE ports to load
balance and condition traffic for lower bandwidth tools.
Commentary

"When service performance degrades, every second of downtime impacts both business productivity and its bottom line," said Charles Thompson, Director of Product Strategy for Network Instruments. "Ixia Anue's enhanced features, such as port tagging and time stamping, combined with Network Instruments' performance management solutions help our mutual customers resolve issues faster."

"With mobile data traffic forecast to increase by twelve times in the next five years, service providers and large enterprises will have to deploy 100GbE as the backbone of their networks," said Iain Gillott, Founder and President of iGR. "The challenge for the service providers and enterprises is to make the switch as cost effective as possible. The ability to upgrade existing solutions to 100GbE and maintain the same level of visibility is key in the industry-wide 100GbE adoption."

To learn more about the Ixia Anue NTO, including the 100GbE Interface Module and NVOS v3.8, visit Ixia at Booth No. 1951 at Interop Las Vegas, May 7-9, 2013.

About Ixia

From the lab to the network to the cloud, Ixia solutions optimize networks and data centers to accelerate, secure and scale the delivery of applications and services. Ixia delivers the industry's only solution with complete visibility into critical network, data center, applications and services. Ixia provides actionable insight for enterprises, service providers, government agencies and equipment manufacturers with solutions that test, assess and optimize networks. Ixia solutions use predictive data to accelerate and secure application and service delivery, giving customers the confidence to know their business networks are engineered to be understandable, dynamic and resilient. For more information, please visit www.ixiacom.com.


CONTACT: Ixia Editorial Contact:
Andrea Zack, 512-821-6009

azack@ixiacom.com


SOURCE: Ixia
Copyright Business Wire 2013

Order free Annual Report for Ixia

Visit http://djnweurope.ar.wilink.com/?ticker=US45071R1095 or call +44 (0)208 391 6028
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http://online.wsj.com/article/PR-CO-20130422-905954.html?mod=googlenews_wsj

XXIA

Deutsche Bank Unveils a List of Top Small Cap Stocks to Buy (xxxxxxxx, XXIA)
Posted: April 15, 2013 at 8:15 am


Investors have done a fine job since the lows in 2009 by buying mega cap stocks, especially those that pay solid dividends. If the economy continues to improve, even at a slower pace than most recoveries, stock investors may want to turn their attention to taking some profits and look at adding some small cap names to their portfolios.

In a new report just out, the analysts at Deutsche Bank A.G. (NYSE: DB) have an outstanding list of small cap stocks to buy that you may want to consider. We screened their report for the top picks by sector, with the highest percentage upside to their price target.

Technology: Ixia (NASDAQ: XXIA) is the top stock to buy here. Ixia provides converged Internet protocol (IP) network validation and network visibility solutions in the United States and internationally. The price target for the stock is $24. The consensus is the same at $24.

Typically, small cap stocks are pretty far off the financial media radar. It is no stretch that some readers are not familiar with the Deutsche Bank top stocks to buy, as this is where solid research comes in handy. Investors that add an allocation of small caps to their portfolios in front of an improving economy may just be in for some solid gains.

Read more: Deutsche Bank Unveils a List of Top Small Cap Stocks to Buy (xxxxxxxx, XXIA) - 24/7 Wall St.

http://247wallst.com/2013/04/15/deutsche-bank-unveils-a-list-of-top-small-cap-stocks-to-buy-pnk-skyw-nbix-pacd-efc-xxia/#ixzz2QZDQ6npU
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XXIA

Ixia Continues Market Leadership in OpenFlow Network Validation
Service providers now experience the benefits of OpenFlow, including faster service delivery and increased return on technology investments

CALABASAS, Calif., Apr 15, 2013 (BUSINESS WIRE) --

Ixia XXIA -4.63% now enables service providers to fully benefit from the reliability and scale of standards-based software-defined networking technologies, including OpenFlow. Through earlier releases of OpenFlow, enterprises have benefited from increased network insight, management and control. Now, with the new v1.3 protocol, service providers will gain increased value from the greater scale, reliability and features available.

IxNetwork, the industry's first off-the-shelf, standards-based OpenFlow test solution, has an expanded feature set to help service providers harness the power and control offered with OpenFlow v1.3. With added features such as support for MPLS and IPv6, Ixia will be the first to publicly demonstrate OpenFlow v1.3 protocols at the Open Networking Summit (ONS) taking place in Santa Clara, CA, on April 15-17, at booth No. 301.

Given the promise of delivering services faster and with increasing return on technology investment, service providers are deploying OpenFlow and realizing benefits previously available only to enterprises. As with any new networking architecture, its efficiency needs to be proven, and accordingly, Ixia has expanded IxNetwork to allow service providers to verify protocol conformance and fine-tune network designs before deployment.

Product highlights

IxNetwork speeds application delivery across the network by allowing users to test and validate network infrastructure, capacity and scalability. With Ixia, both enterprises and service providers can better validate OpenFlow networks through the following capabilities:

-- Increased control for modifying flow table entries and then generating traffic to test the forwarding using IxNetwork's hardware-based traffic generation with new control-plane capability.

-- Switch protocol conformance testing using IxANVL's OpenFlow test suite, which includes approved test cases for Open Networking Foundation certification.

-- Performance benchmarking for layer 2 and layer 3 learning capabilities via the new IxNetwork OpenFlow Quick Test.

-- Emulation of OpenFlow switches to test the functionality and performance of an OpenFlow controller.

Development and implementation of the OpenFlow standard, managed by the Open Networking Foundation (ONF), has moved quickly, with enterprises already adopting the v1.0 protocol. Having provided the testing tools for this version of the OpenFlow standard, Ixia maintains a leadership position in the market by acting quickly to enhance IxNetwork with the new v1.3 protocol.

Industry commentary

"As the OpenFlow standard continues to develop and expand, it is critical to have test tools available for development and predeployment testing," said Michael Haugh, Senior Market Development Manager, Ixia. "By providing the industry's leading OpenFlow test solutions, being an active member of the ONF, and serving as the chair for the Testing-Interop Working Group, Ixia continues to contribute significant advances to the industry."

"Ixia's advancement of standards-based test solutions for OpenFlow will help us accelerate development of our partner ecosystem qualification to demonstrate readiness for and acceptance of enterprise-grade performance," said Meena Sankaran, Technical Director at Big Switch Networks. "Big Switch Networks will be leveraging the Ixia test system in our booth at ONS and is excited to participate in the demonstration of these new features."

About Ixia

From the lab to the network to the cloud, Ixia solutions optimize networks and data centers to accelerate, secure, and scale the delivery of applications and services. Ixia delivers the industry's only solution with complete visibility into critical network, data center, applications, and services. Ixia provides actionable insight for enterprises, service providers, government agencies, and equipment manufacturers with solutions that test, assess, and optimize networks. Ixia solutions use predictive data to accelerate and secure application and service delivery, giving customers the confidence to know their business networks are engineered to be understandable, dynamic, and resilient. For more information, please visit www.ixiacom.com.

SOURCE: Ixia
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http://www.marketwatch.com/story/ixia-continues-market-leadership-in-openflow-network-validation-2013-04-15

XXIA

Bottom found? Good potential:



XXIA

#42