Ixia reported preliminary total revenue for the fourth quarter of 2016 of $128.2 million, compared with $138.5 million reported for the 2015 fourth quarter and $123.9 million reported for the 2016 third quarter. On a GAAP basis, the company expects to record net income for the 2016 fourth quarter of $5.4 million, or $0.06 per diluted share, compared with net income of $5.8 million, or $0.07 per diluted share, for the 2015 fourth quarter, and net income of $4.8 million, or $0.06 per diluted share, for the 2016 third quarter. Non-GAAP net income for the 2016 fourth quarter was $17.7 million, or $0.21 per diluted share, compared with non-GAAP net income of $18.7 million, or $0.22 per diluted share, for the 2015 fourth quarter, and non-GAAP net income of $15.2 million, or $0.18 per diluted share, for the 2016 third quarter.
“We achieved strong results in the fourth quarter with increased momentum for our network visibility solutions, and we expect earnings and revenue in-line with our guidance. Revenue for our network visibility solutions grew 22% year-over-year, driven by increased demand in the enterprise. With our continued focus on operational excellence and financial discipline we generated strong cash flow from operations during the quarter, bringing our total for the year to $81 million,” said Bethany Mayer, Ixia’s president and chief executive officer.
Keysight to Acquire Ixia for $1.6 Billion
Keysight Technologies (formerly Agilent’s test and measurement group) agreed to acquire Ixia for $1.6 billion in cash. Ixia shareholders will receive $19.65 per share in cash, representing a premium of approximately 45 percent to Ixia’s unaffected closing stock price on Dec. 1, 2016, the last trading day prior to media reports that Ixia was considering strategic alternatives, and a premium of approximately 38 percent to the Ixia’s unaffected 52-week…
