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Ixia Lowers Q1 2013 Revenue Guidance


Thursday, 11 Apr 2013 05:39pm EDT 

Ixia updated revenue expectations for the first quarter of 2013 and expects revenues to be in the range of $121 million to $123 million, below prior revenue guidance of $125 million to $127 million. Management’s updated revenue expectations exclude $4.15 million that the Company previously expected to recognize in the first quarter but has now recognized in prior periods that have been restated to correct certain revenue recognition practices including with respect to an implied warranty arrangement with a customer that resulted in the $4.15 million not being recognized during the 2013 first quarter. The updated range reflects the Company’s previous guidance, as adjusted for the $4.15 million in revenue that has been recognized in prior periods. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $125 million for first quarter of 2013. 

Company Quote

10.52
-0.18 -1.68%
4:00pm EDT