Ixia Drops on Outlook - TheStreet

Ixia (XXIA) was down 22.2% in preopen Island trading. After Thursday's close, the provider of high-speed data equipment warned that second-quarter earnings excluding items would be 2 to 3 cents per share, below its earlier forecast of 9 to 11 cents.

The company blamed lower orders due to the continuing slump in the telecommunications industry. Ixia cut its revenue projection to $14.5 million to $15.5 million from a previous estimate of $22 million to $25 million.