Expects to be back in black in second quarter
By Loralee Stevens, Special to the Business Journal
PETALUMA – Calix, Inc. (NYSE: CALX) today announced revenue for the first quarter of 2014 was $85.8 million, a decrease of 5.2 percent compared to $90.5 million for the first quarter of 2013.
Earnings per share were 7 cents, beating expected earnings per share of 3 cents.
“Historically, Q2 has tended to be a higher-performing quarter than Q1, and we expect this trend to continue,” David Allen, director of investor relations, told stock analysts in a conference call Tuesday. “Very importantly, we expect to return to profitability and to being cash-flow positive in Q2 and for the rest of 2014.”
Calix is a maker of communication networking gear spanning several architectures over both copper and optical networks. It’s main focus is fiber-to-the-home, or last-mile solutions.
“While the first quarter started off slowly as expected, we saw increasing demand as the quarter progressed,” said Carl Russo, president and CEO. “Growing demand for gigabit services and the recently completed integration of E-Series solutions with the BLM 1500 platform and the EntriView management system allowed us to make solid progress in expanding our customer footprint both domestically and internationally during the first quarter.”
Non-GAAP net loss for the first quarter of 2014 was $1.5 million, or 3 cents per fully diluted share. Non-GAAP net income was $3.2 million, or 6 cents per fully diluted share, for the first quarter of 2013.
GAAP net loss for the first quarter of 2014 was $10.0 million, or 20 cents per basic and diluted share, compared to a GAAP net loss of $6.2 million, or 13 cents per basic and diluted share for the first quarter of 2013.
Calix employs more than 700. It maintains California facilities in Petaluma, Santa Barbara, Fremont and San Jose, as well as facilities in Richardson, Texas, Minneapolis and Boston. The company also has a facility in Nanjing, China.
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