Calix Q1 revenue increases to $78.6M on continued broadband network deals
Calix (NYSE: CALX) reported first-quarter 2012 revenue of $78.6 million, up 10 percent from $71.5 million in Q1 2011 a result of continued broadband stimulus shipments.
"Solid operational performance together with strong bookings and broadband stimulus shipments in the quarter were encouraging," Carl Russo, president and CEO of Calix, said in the earnings release.
Just as it released its earnings, the vendor announced that it won equipment contracts with an additional five service providers that have begun new Broadband Initiatives Program (BIP) stimulus projects. In addition to increasing its domestic customer wins, Calix has been making progress in penetrating international markets, including rural broadband initiatives with U.K.-based Cybermoor Networks and Sweden-based cable operator Köpings Kabel.
The vendor's Q1 2012 non-GAAP net income was $.06 million, or $0.01 per fully diluted share compared to $3.8 million, or $0.09 per fully diluted share, in Q1 2011.
Calix also narrowed its GAAP net-loss in Q1 2012 $7.5 million, or $0.16 per basic and diluted share, versus a GAAP net loss of $22.8 million, or $0.55 per basic and diluted share in Q1 2011.
Calix's stock closed at $7.60 in trading Tuesday on the New York Stock Exchange, down $0.36.