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Here's Why Ixia (XXIA) Stock Is Tanking Today

NEW YORK (TheStreet) -- Ixia (XXIA - Get Report) stock is plunging 17.02% to $10.12 on heavy trading volume this afternoon after the company warned late Thursday that its first-quarter revenue will miss its own forecast.

Ixia expects that 2016 first quarter revenue will range between $108 million and $111 million, down from the company's previous guidance for revenue between $121 million and $126 million.

Ixia anticipates that non-GAAP earnings will be between 5 cents and 8 cents per share for the quarter, compared to its previous expectations for earnings between 10 cents and 14 cents per share.

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