Ixia (Nasdaq: XXIA) reported earnings on July 30. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Ixia met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share didn't change. GAAP earnings per share dropped significantly.

Margins shrank across the board.

Revenue details
 Ixia reported revenue of $115.9 million. The five analysts polled by S&P Capital IQ hoped for a top line of $115.0 million on the same basis. GAAP reported sales were 26% higher than the prior-year quarter's $92.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 EPS came in at $0.18. The five earnings estimates compiled by S&P Capital IQ anticipated $0.18 per share. Non-GAAP EPS of $0.18 were the same as the prior-year quarter. GAAP EPS of $0.05 for Q2 were 85% lower than the prior-year quarter's $0.33 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
 For the quarter, gross margin was 78.9%, 270 basis points worse than the prior-year quarter. Operating margin was 5.8%, 750 basis points worse than the prior-year quarter. Net margin was 3.2%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $118.2 million. On the bottom line, the average EPS estimate is $0.19.

Next year's average estimate for revenue is $484.7 million. The average EPS estimate is $0.87.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 69 members out of 81 rating the stock outperform, and 12 members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 18 give Ixia a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ixia is outperform, with an average price target of $20.50.

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