Testing Wireless Networks Featured Article

Ixia (News - Alert), a provider of technology for testing wireless networks, has reported its financial results for the second quarter ended June 30, 2010, racking up record revenue and slashing the net loss from $2.7 million to $361,000.

Total revenue for the 2010 second quarter was a record $66.1 million, an increase of 72 percent over $38.4 million reported for the 2009 second quarter and an increase of seven percent over the $62.0 million reported for the immediately preceding quarter.

Revenue for the 2010 second quarter includes approximately $15.3 million attributable to sales of the IxN2X and IxCatapult products following the acquisition of Agilent Technologies' (News - Alert) N2X Data Network Testing Product Line in October 2009 and the acquisition of Catapult Communications in June 2009.

"We are pleased with our 2010 second quarter results," said Atul Bhatnagar (News - Alert), Ixia's president and chief executive officer. "We are seeing strong demand for our wireline testing products, including our high-speed Ethernet products and our newly introduced NGY Fusion-enabled offering."

TMC's CEO Rich Tehrani had a chance to interview Bhatnagar at Interop (News - Alert) 2010 in Las Vegas, who told him the best time to change is when business is slow, as you can do things you cannot when the business is running at a faster clip. "In the company's business planning they realized convergence is the driver," Tehrani noted, adding that "this convergence applies to wireless and wired. And this convergence has the effect of causing the testing tools to converge as well."

On a GAAP basis, the company recorded a net loss for the 2010 second quarter of $361,000, or $0.01 per share, compared to a net loss of $2.7 million, or $0.04 per share, for the 2009 second quarter.

Non-GAAP net income for the 2010 second quarter was $6.8 million, or $0.10 per diluted share, compared to non-GAAP net income of $2.0 million, or $0.03 per diluted share, reported in the second quarter of last year.

As of June 30, 2010, Ixia had cash, cash equivalents and investments of $103 million and no debt.