ixia (XXIA) Key Developments
Ixia Receives Notice Regarding Non-Compliance with Nasdaq Listing Rule
Mar 14 14
Ixia announced that, as expected and due to the previously announced delay in the filing of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the "Form 10-K"), on March 10, 2014, the company received a notice from The NASDAQ Stock Market LLC ("Nasdaq") notifying the company that it does not comply with Nasdaq Listing Rule 5250(c)(1). Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The notice was issued in accordance with standard Nasdaq procedures and has no immediate effect on the listing of the company's common stock. The company previously received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) following its failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2013 (the "Form 10-Q"). The company has until March 18, 2014 to submit to Nasdaq an update to Ixia's original plan to regain compliance with Listing Rule 5250(c)(1) as submitted to Nasdaq in connection with the Form 10-Q. The updated plan is required to include the company's plan for filing the Form 10-K as well as an indication of the progress that the company has made towards implementing the original plan. Ixia intends to submit an updated plan to Nasdaq by the specified deadline. Nasdaq previously granted the company an exception until March 18, 2014 to file the Form 10-Q, and the company expects that in the updated plan it will request an extension of that exception. If Nasdaq accepts the company's updated plan, any additional Nasdaq exception to allow the company to regain compliance with Listing Rule 5250(c)(1) will be limited to a maximum of 180 days from the original due date for the Form 10-Q filing (i.e., until May 19, 2014). If Nasdaq does not accept the updated plan, then Ixia will have the opportunity to appeal the delisting decision to a Nasdaq Hearings Panel. Under Nasdaq's rules and procedures, a company's request for such a hearing is generally due within seven calendar days after receipt of the delisting notification, and such a request automatically stays any delisting (and suspension of trading) for an additional 15 calendar days from the deadline to request a hearing. Upon receiving any such notification, the company intends to request a hearing by the seven calendar day deadline and to request an additional stay beyond the 15 calendar days should it become necessary.
Ixia Announces Executive Changes
Mar 5 14
Ixia announced that On March 2, 2014, Thomas B. Miller submitted his resignation, effective March 3, 2014, as Chief Financial Officer. Mr. Miller has agreed to continue as an employee of Ixia for three months following his resignation to provide support during the transition period. On March 3, 2014 and in connection with Mr. Miller's resignation as Chief Financial Officer, the company's Board of Directors appointed Brent Novak, the Vice President, Finance of the company, to also serve as the company's Acting Chief Financial Officer. Mr. Novak, age 42, joined the company in April 2004 as Senior Director, Finance. Mr. Novak served in that position until 2006, at which time he assumed the position as Vice President, Finance.
Ixia announced delayed annual 10-K filing
Mar 4 14
On 03/04/2014, Ixia announced that they will be unable to file their next 10-K by the deadline required by the SEC.
Ixia Introduces Visibility Architecture for Enterprises and Service Providers
Feb 21 14
Ixia introduced its Visibility Architecture that integrates into data center environments to help enterprises and service providers achieve visibility into physical and virtual networks. The architecture helps eliminate blind spots and supports business agility by providing actionable insights into performance degradations and potential security issues as the network grows. With the recent acquisition of Net Optics, Ixia offers the industry's most comprehensive network visibility product portfolio. This portfolio serves as the foundation of the new Visibility Architecture and includes network access solutions, network packet brokers, application and session visibility solutions, and an integrated management platform. This portfolio provides enterprises and service providers with a single integrated resource to address all of their visibility needs. Ixia is the only company to offer this comprehensive and fully integrated Visibility Architecture that enables end-to-end visibility across the entire network, including mixed physical and virtual network environments. In addition, this architecture supports both passive monitoring and fail-safe inline security deployments. The Ixia Visibility Architecture helps to eliminate blind spots in the network by getting the right information to the right tools at the right time, greatly improving performance, QoE and security.
Ixia Introduces Three Times More Network Visibility in Half the Rack Space
Feb 20 14
Ixia introduced, as part of its Visibility Architecture, its most advanced, high capacity platform that is designed to provide three times the visibility in half the rack space for enterprise and service provider applications. With this increased visibility, Ixia helps customers ensure their networks are equipped to support and manage rapid increases in bandwidth and user application complexity as well as to meet the need for expanded visibility into the unseen virtual network with existing monitoring tool investments. Ixia's high-density NTO 7300 is an upgradeable visibility platform that easily integrates into any network or data center environment. Ixia's newest network packet broker, the Net Tool Optimizer 7300, leads the industry in density, scalability and performance. It helps service providers and enterprises to improve real-time insights into the data traversing the network. The increased visibility allows customers to assess the network's ability to handle new service or application deployments to monitor traffic from a rapidly growing user base, maintain data security and privacy monitoring and more quickly diagnose and resolve critical issues. The NTO 7300 is an upgradeable visibility platform that easily integrates into any network or data center environment to optimize existing 1GbE and 10GbE monitoring tools in order to achieve total application and network visibility, even after migrating the core to 40GbE. Provide density, scalability and performance that gives IT teams the capability to monitor rapid changes in the network. Offer a platform solution that provides a "pay-as-you-grow" upgrade path. Save on CAPEX and OPEX with a compact footprint by using less rack space and power. In addition, the high-density NTO 7300 will help eliminate blind spots that occur as a result of the ever-increasing network complexity. Allow for elegantly scalable network visibility with existing visibility tools ensuring that application data is sent to the right tools at the right time.