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What: Shares of IP testing company Ixia
So what: Revenue in the first quarter totaled $85.6 million, with earnings per share of $0.15. Both figures registered a beat to consensus estimates, which called for $83.5 million in sales and a profit of $0.14 per share.
Now what: CEO Victor Alston attributed the revenue beat primarily to strong sales in Japan, which has been a theme among other tech players recently reporting. The company also saw strong sales of its LTE solutions worldwide. On the heels of the report, Wunderlich Securities issued an upgrade to "buy" with a price target of $15, representing potential further upside from today's levels.
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