Ixia said Friday that its directors approved a repurchase program of up to $25 million of the company’s common stock over the next six months. This follows a $50 million repurchase program completed in June.

The Calabasas tech company’s stock, which was up 2 percent to $5 in morning trading on the Nasdaq, is more than 50 percent off a 52-week high set in November 2007.

Chief Executive Atul Bhatnagar said the company has sufficient cash to carry out the buy-back and operate the company.

Ixia’s test systems are used by network and telephony equipment manufacturers, semiconductor manufacturers and service providers to validate the performance and reliability of complex IP networks, devices and applications.

The company last month reported third quarter net income fell 79 percent to $483,000 compared with a year ago, despite revenue rising 7.5 percent to $47.3 million. The drop was due to an impairment charge related to bonds issued by failed investment bank Lehman Brothers Holdings, Inc.