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Ixia Files 2012 10-K, Including Restated Financial Statements, and Is Current with SEC Filings

Monday, 8 Apr 2013 07:00pm EDT 

Ixia announced that on April 4th it had filed its Annual Report on Form 10-K for the year ended December 31, 2012 (2012 Form 10-K) with the Securities and Exchange Commission (the Commission). As part of the 2012 Form 10-K, Ixia has completed the restatement of its previously issued consolidated financial statements for the years ended December 31, 2010 and 2011, its unaudited quarterly financial information for each of the quarters and year-to-date periods in the year ended December 31, 2011 and in the nine months ended September 30, 2012, and its selected financial data for the years ended December 31, 2008 and 2009. With the filing of its 2012 Form 10-K, Ixia is now current in its filings of periodic reports with the Commission. The restated consolidated financial statements correct certain errors that existed in Ixia's previously issued consolidated financial statements, principally related to the manner in which the Company recognized revenues related to its warranty and software maintenance contracts, including a previous implied warranty and software maintenance arrangement with one of the Company’s customers. The related changes in the Company’s revenue recognition practices will generally result in a shift of revenues between accounting periods in the Company's previously issued financial statements. 

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26 Dec 2014