EmailIxia (XXIA $9.87 -3.14) lowers second quarter earnings guidance to
$0.07 to $0.08, down from $0.14 to $0.17 previously, versus the $0.16 Capital IQ
Consensus Estimate. On the top line, the company expects revenues to fall in the
range of $67 million to $69 million, down from $78 million to $82 million
previously versus $80.16 million Capital IQ Consensus Estimate.
The company said, "We are disappointed with our revenue performance this
quarter, which was impacted by several factors, including delays and reductions
in spending by certain large network equipment makers, a large wireless order
received too late in the quarter to ship and soft sales in the Asia Pacific
region, while we expected revenue from Japan to decline sequentially from the
record first quarter, we experienced unexpected weakness in other parts of Asia
Pacific, such as China and India. It is important to note that second quarter
sales to our largest customer, Cisco, were strong at approximately $10 million.
Additionally, we did see some encouraging trends in the quarter, including an
overall book-to-bill ratio in excess of one, and we secured our highest booking
quarter to date for our IxCatapult wireless solutions, some of which will be
recognized as revenue in future quarters. These indicators give us confidence
that we will return to sequential growth in the third quarter although we remain
cautious about the overall spending environment."
than one year.
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