Shares in Ixia rose slightly Monday after the company reported a big increase in quarterly earnings, finishing a year that saw its net income fall by more than 50 percent.
Ixia reported fourth-quarter net income of $4.5 million (7 cents per share), a 23 percent increase from $3.6 million (5 cents) for the same period a year earlier. A stock-based compensation charge reduced earnings by $3.8 million. Ixia said it earned $8.9 million (13 cents per share) excluding the charge, exceeded analysts’ expectations of 9 cents.
Revenues for the Calabasas-based provider of communications network performance and analysis systems increased 34 percent to $47.4 million, also exceeding analysts’ expectations of $42.8 million. Among growth areas, the company said, was its European business.
For the full year, Ixia’s net income dropped 53 percent to $13.5 million (20 cents) while revenues surged 19 percent to $180 million.
Shares in Ixia closed up 18 cents, or 1.6 percent, to $11.18 Monday on the Nasdaq.