The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Calix met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP loss per share grew.
Gross margins grew, operating margins contracted, net margins dropped.
Calix logged revenue of $91.4 million. The five analysts polled by S&P Capital IQ expected sales of $91.6 million on the same basis. GAAP reported sales were 0.2% lower than the prior-year quarter's $91.6 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 $0.06. The six earnings estimates compiled by S&P Capital IQ predicted $0.03 per share. GAAP EPS were -$0.14 for Q4 against -$0.11 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 42.8%, 10 basis points better than the prior-year quarter. Operating margin was -6.9%, 260 basis points worse than the prior-year quarter. Net margin was -7.2%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $90.3 million. On the bottom line, the average EPS estimate is $0.01.
Next year's average estimate for revenue is $414.7 million. The average EPS estimate is $0.40.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 69 members out of 75 rating the stock outperform, and six members rating it underperform. Among 18 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 17 give Calix a green thumbs-up, and one 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 $7.44.
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