CALABASAS, Calif. (AP) -- Ixia's shares soared Monday after it increased its fourth-quarter revenue guidance to levels above market forecasts, saying it expects larger revenue gains than it had previously expected from recent acquisitions.
The network hardware company said it expects revenue in the range of $123.5 million to $124.5 million. That's above its prior guidance of $118 million to $122 million. Analysts polled by FactSet had been expecting revenue of $121.1 million.
Ixia also said that it expects fourth quarter combined revenue from its two recent acquisitions, Anue Systems Inc. and BreakingPoint Systems Inc., will be in the range of $30 million to $31 million, compared with its prior expectations of $26 million to $28 million.
The company expects its earnings for the quarter will be at, or slightly above the high-end of its prior forecast of 20 to 22 cents per share. Analysts were expecting earnings of 22 cents per share.
Ixia will report its full financial results for the period on Feb. 6 and give its outlook for the first quarter at that time.
Shares of the company gained $1.43, or 8.1 percent, to $19.09 in afternoon trading after rising as high as $19.50 earlier. That was its highest level since March 2005, according to FactSet.