CALABASAS, CA — (Marketwire) — 03/19/12 — (NASDAQ: XXIA), the leading global provider of converged IP and wireless network test solutions, today announced that Victor Alston has been appointed as Ixia-s Chief Operating Officer and will stand for election to the Board of Directors at the Company-s annual meeting of shareholders scheduled to be held on May 10, 2012. In addition, the Company announced that Atul Bhatnagar, the Company-s President and CEO, will be leaving the Company effective as of the date of the annual meeting and will not stand for reelection to the Board. Ixia also announced that Mr. Alston will succeed Mr. Bhatnagar as President and CEO following Mr. Bhatnagar-s departure from the Company.
Mr. Alston joined the Company in 2004 and has served as the Company-s Senior Vice President, Product Development since June 2007. In this role, Mr. Alston has been directly responsible for the Company-s product management and product development as well as approximately half of the Company-s employees.
“On behalf of the Board of Directors, I want to thank Atul for his leadership and service to the Company,” said Errol Ginsberg, Chairman of the Board. “Atul deserves tremendous credit for his contributions to Ixia and the progress the Company has made under his leadership. I also deeply appreciate Atul-s commitment to make this a seamless transition.
“We are also very excited about Vic-s new role as COO and his upcoming move into the role of CEO,” said Ginsberg. “He has extensive experience and knowledge of all our product offerings and the needs of our customers. We believe that our business is gaining momentum and that Vic-s passion and operational knowledge will help the Company take the next step.”
“I appreciate the Board-s confidence in me and am looking forward to helping the Company capitalize on the opportunities that I see for it to grow and become a more significant player in the market,” said Alston.
Mr. Ginsberg added, “The Company-s sales activity for the first quarter of 2012 is tracking in accordance with expectations, and we expect our revenues for the current quarter to be in line with our previously stated guidance of $82 million to $85 million.”
Ixia provides the industry-s most comprehensive converged IP services testing solution — from the wireless edge to the Internet core. Network equipment manufacturers, service providers, enterprises and government agencies use Ixia-s industry-leading test and simulation platforms to design and validate a broad range of wired, Wi-Fi and 3G/LTE networking equipment and networks. Ixia-s solutions create real-world conditions by emulating a full range of high-scaling networking protocols and generating media-rich application traffic to validate performance, conformance and security of cloud, core, data center, wireless and multiplay networks. For more information, visit .
Certain statements made in this press release are forward-looking statements, including, without limitation, statements regarding growth and future business. In some cases, such forward-looking statements can be identified by terms such as may, will, should, expect, plan, believe, estimate, predict or the like. Such statements reflect our current intent, belief and expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that may cause future results to differ materially from our current expectations include changes in the global economy, competition, consistency of orders from significant customers, our success in developing and producing new products, market acceptance of our products and other circumstances that could, among other consequences, reduce the demand for our products, disrupt our supply chain or impact the delivery of our products, as well as the factors identified in our Annual Report on Form 10-K for the year ended December 31, 2011, and in our other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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