Why Ixia Shares Popped
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What: Shares of Ixia have popped today by as much as 10% after the company raised its fourth-quarter guidance.
So what: The company had previously expected revenue to be in the range of $118 million to $122 million but now expects a top line of $123.5 million to $124.5 million in the fourth quarter. The boost is partially attributed to the recent acquisitions of Anue Systems and BreakingPoint Systems, which combined are expected to generate more revenue than previously anticipated.
Now what: Anue and BreakingPoint were previously expected to generate sales of $26 million to $28 million, a range that's now up to $30 million to $31 million. In addition, both GAAP and non-GAAP earnings per share are expected to be at or above the high end of guidance, following the top-line beat. CEO Vic Alston said the integration of both Anue and BreakingPoint is proceeding well and expanding the company's enterprise presence.
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