ixia (XXIA) Key Developments
Ixia Appoints Hans-Peter Klaey as Senior Vice President, Global Sales
Mar 23 15
Ixia announced that Hans-Peter Klaey has joined Ixia as its senior vice president, global sales. From 2011 to 2014, Klaey served as HP's senior vice president of the global field organization for the HP software business group.
Ixia Receives Non-Compliance Notice From Nasdaq
Mar 23 15
Ixia announced that because the company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 with the Securities and Exchange Commission (SEC), on March 19, 2015 the company received a letter from The NASDAQ Stock Market LLC (Nasdaq) notifying the company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the SEC. The company filed a Form 12b-25 Notification of Late Filing with the SEC on March 2, 2015 reporting that it planned to file the Form 10-K with the SEC within the extension period of 15 calendar days beyond the original due date of March 2, 2015 (that is on or before March 17, 2015). The company was, however, unable to file by the extended deadline. The company continues to devote substantial resources to and is far along in the process of completing the Form 10-K. Management does not anticipate that the Form 10-K will reflect any material adjustments to the company’s previously announced preliminary financial results for the quarter and fiscal year ended December 31, 2014. The company expects that it will be in a position to complete and file the Form 10-K as soon as (i) the company finalizes its 2014 financial statements and management completes its assessment of the effectiveness of the company’s internal control over financial reporting as of December 31, 2014, and (ii) the company’s independent registered public accounting firm completes its audit of such financial statements and internal control over financial reporting. As reported in the Form 12b-25, the company expects to disclose in the Form 10-K that its internal control over financial reporting and disclosure controls and procedures were not effective as of December 31, 2014. Nasdaq’s letter provides that the company has 60 calendar days from the company’s receipt thereof to submit to Nasdaq a plan to regain compliance with the Listing Rule. If such a plan is required as a result of any continuing delay in the filing of the Form 10-K, the company intends to submit such a plan to Nasdaq.
Ixia to Demonstrate 25 Gigabit Ethernet Validation Solution
Mar 19 15
Ixia announced that it will unveil 25 Gigabit Ethernet (GbE) validation solution at the Optical Fiber Communication Conference (OFC) in Los Angeles from March 24, 2015 through March 26, 2015. Ixia's solution" the latest in its history of first-to-market Ethernet speed innovations that span 40/100/400GbE' "enables its customers to successfully deploy 25GbE in order to meet both the growing bandwidth requirements and cost and space considerations of ever-evolving data centers. Ixia will demonstrate the solution at Ixia's OFC booth (#2737). 25GbE has quickly emerged as a key in-rack connectivity technology for the ever-exploding, hyper-scale data center. 25GbE is a win-win option for data centers, by providing 2.5x the bandwidth of 10GbE, with minimal increase in footprint and an eye on OPEX. Ixia's 25GbE solution builds on its first-to-market, native QSFP28 Xcellon -Multis load modules by providing the 25GbE speed in addition to the previously available 100GbE speed.
Ixia Announces New Credit Facility
Mar 3 15
Ixia announced that it has amended its existing credit agreement and secured a new three-year, $100 million credit facility. Effective March 2, 2015, the company's credit agreement provides for a revolving credit loan of up to $60 million and a term loan of up to $40 million. The credit facility also includes an accordion feature, which allows the company to request an increase of up to $80 million in the lenders total commitments under the credit facility, potentially increasing the total amount available under the credit facility to up to $180 million.
Ixia announced delayed annual 10-K filing
Mar 2 15
On 03/02/2015, Ixia announced that they will be unable to file their next 10-K by the deadline required by the SEC.