Ixia Restates FinancialsFriday, April 5, 2013
Ixia has restated financial results for fiscal years 2010, 2011 and the first three quarters of last year in order to correct errors in how it records revenue for its warranty and software maintenance contracts. The changes added more than $7.8 million total to net income.
The impact of the restatement increased net income by about $2.9 million for 2011, $1.6 million for 2010, $3 million for 2009 and $360,000 for 2008, the Calabasas network equipment company said in its annual report filed late Thursday.
Shares on Friday closed down 58 cents, or 3 percent, to $17.79 on the Nasdaq.