The 10-second takeaway
For the quarter ended June 30 (Q2), Calix met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP loss per share dropped.
Gross margins improved, operating margins shrank, and net margins expanded.
Calix reported revenue of $78.9 million. The six analysts polled by S&P Capital IQ foresaw a top line of $79.2 million on the same basis. GAAP reported sales were 19% lower than the prior-year quarter's $98 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.04. The seven earnings estimates compiled by S&P Capital IQ forecast $0.04 per share. GAAP EPS were -$0.15 for Q2 compared to -$0.38 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 44.7%, 70 basis points better than the prior-year quarter. Operating margin was -8.7%, 630 basis points worse than the prior-year quarter. Net margin was -9%, 900 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $86 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $338.2 million. The average EPS estimate is $0.25.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 76 members rating the stock outperform and six members rating it underperform. Among 15 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 13 give Calix a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Calix is outperform, with an average price target of $10.64.
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