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NASDAQ Hearings Panel approves continued listing of Ixia shares

Ixia (XXIA) announced that a NASDAQ (NDAQ) Hearings Panel has determined to continue the listing of Ixia’s common stock on The NASDAQ Stock Market. The continued listing is subject to the condition that, on or before September 12, Ixia become current in its periodic filings with the Securities and Exchange Commission. Ixia must also be able to demonstrate at such time that it is in compliance with all other requirements for continued listing on Nasdaq. If the company is unable to satisfy these conditions, the company’s common stock may be delisted. Ixia is currently only delinquent in filing its Quarterly Report on Form 10-Q for the quarter ended March 31 with the SEC. The company currently expects to file its First Quarter Form 10-Q in late July. Because of the substantial effort the company expects will be required to complete and file the Q1 Form 10-Q in late July, the company does not anticipate that it will be able to file its Quarterly Report on Form 10-Q for the quarter ended June 30 by the SEC’s August 11th filing due date. The company currently expects, however, that it will be in a position to file the 2 Form 10-Q and to become fully current in its periodic filing obligations with the SEC, on or before the September 12 date specified by the Panel.