PETALUMA – Calix, Inc. (NYSE: CALX), a Petaluma-based provider of broadband communications equipment and software, announced today that company revenue rose 10 percent during the first quarter of 2012 compared to the same period last year, according to a regulatory filing from the company.
The revenue of $78.6 million for the quarter resulted in net income of $600,000, or 1 cent per diluted share, compared to $3.8 million in net income during the same period in 2011.
Calix reported those results along with results calculated through the so-called Generally Accepted Accounting Principles, also known as GAAP. In the release, the company saud that it felt the GAAP results were not indicative of its core operating results, as they include measures like stock-based compensation and the amortization of acquisition-related intangible assets from the merger with Occam Networks.
According to GAAP calculations, the first quarter of 2012 saw a $7.5 million loss, which equaled 16 cents per share, compared to a GAAP net loss of $22.8 million during the same quarter in 2011.
Total assets of the company were $359.8 million at the end of the quarter, with cash and cash equivalents on hand of $49.56 million.
"Solid operational performance together with strong bookings and broadband stimulus shipments in the quarter were encouraging," said Carl Russo, president and CEO, in a written release.