The 10-second takeaway
For the quarter ended March 30 (Q1), Calix met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP loss per share dropped.
Margins expanded across the board.
Calix recorded revenue of $90.5 million. The four analysts polled by S&P Capital IQ expected to see revenue of $90.1 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $78.6 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 -$0.13. The six earnings estimates compiled by S&P Capital IQ anticipated $0.01 per share. GAAP EPS were -$0.13 for Q1 compared to -$0.16 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 47.7%, 300 basis points better than the prior-year quarter. Operating margin was -6.1%, 330 basis points better than the prior-year quarter. Net margin was -6.9%, 270 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $96.5 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $406.5 million. The average EPS estimate is $0.41.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 64 members out of 71 rating the stock outperform, and seven members rating it underperform. Among 14 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 13 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 $9.58.
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