Ixia updated its financial guidance, saying it now expects Q1 revenue to be between $108 million and $111 million, below the company’s previous guidance of $121 million to $126 million. The company currently expects a GAAP loss for the quarter of between $0.03 and $0.05 per diluted share, compared with previous guidance of breakeven to a loss of $0.04 per diluted share. The company currently expects non-GAAP earnings for the quarter to be between $0.05 and $0.08 per diluted share, compared with previous guidance of between $0.10 and $0.14 per diluted share.
“We are disappointed with our first quarter results. Our topline performance was primarily impacted by an unexpected and marked slowdown in network test spending from our North America network equipment manufacturer customers in March, and we continued to experience delays in closing network visibility deals,” said Bethany Mayer, Ixia’s president and chief executive officer. “Despite these near-term headwinds, we remain confident in our strategy to grow our business and are committed to financial discipline.”
