Calix Reports Q2
PETALUMA, Calif. -- Calix, Inc. (NYSE:CALX) today announced unaudited financial results for the second quarter ended July 1, 2017. Revenue for the second quarter of 2017 was a record $126.1 million, an increase of 17.4% compared to $107.4 million for the second quarter of 2016.
“Continued customer investments in broadband access led to record second quarter revenue, increasing by more than 17% compared to the year ago period and exceeding our expectations,” said Carl Russo, Calix, Inc. President and CEO. “Our transformation continues as we continue to experience strong demand for our AXOS platform which for the 9th consecutive quarter achieved double-digit growth in new customer adoption. We continue to transform our services business, which experienced higher than expected costs associated with previously-awarded turnkey network improvement projects. This led to the lower than expected earnings and we will sharpen our focus on driving increased efficiencies in our services business,” added Russo.
The GAAP net loss for the second quarter of 2017 was $19.0 million, or $(0.38) per basic and fully diluted share, compared to a GAAP net loss of $5.8 million, or $(0.12) per basic and fully diluted share, for the second quarter of 2016.
“The higher costs associated with previously-awarded projects in our services business are expected to persist over the near-term as activity levels remain elevated to close out these previously-awarded projects and meet customer requirements,” said Cory Sindelar, Calix, Inc. Interim CFO. “With our increased traction in the market, we remain committed to investing in our next generation technologies led by AXOS and Calix Cloud,” added Sindelar.
The Company’s non-GAAP net loss for the second quarter of 2017 was $15.3 million, or $(0.30) per fully diluted share, compared to a non-GAAP net loss of $2.0 million, or $(0.04) per fully diluted share, for the second quarter of 2016. Reconciliations of our operating results and loss per share from GAAP to non-GAAP are provided in this release.
Calix Inc. (NYSE: CALX)