PETALUMA, CA — (Marketwired) — 04/25/13 — (NYSE: CALX) today announced unaudited financial results for the first quarter ended March 30, 2013. Revenue for the first quarter of 2013 was $90.5 million, an increase of 15.3% compared to $78.6 million for the first quarter of 2012.
“Our strong year-over-year first quarter revenue growth resulted in record revenue for a first quarter and improved gross margin,” said Carl Russo, president and CEO of Calix. “These results reflect our success in penetrating new customer accounts and expanding our addressable market.”
Non-GAAP net income for the first quarter of 2013 was $3.2 million, or $0.06 per fully diluted share. Non-GAAP net income was $0.6 million, or $0.01 per fully diluted share, for the first quarter of 2012. A reconciliation of GAAP and non-GAAP results is included as part of this release.
GAAP net loss for the first quarter of 2013 was $6.2 million, or $(0.13) per basic and diluted share, compared to a GAAP net loss of $7.5 million, or $(0.16) per basic and diluted share for the first quarter of 2012. A reconciliation of our first quarter 2013 operating results from non-GAAP to GAAP is provided below:
Conference Call
In conjunction with this announcement, Calix will host a conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) today to discuss its first quarter 2013 financial results. A live audio webcast and replay of the call will be available in the Investor Relations section of the Calix web site at .
Live call access information: Dial-in number: (877) 407-4019 (U.S.) or (201) 689-8337 (outside the U.S.)
The conference call and webcast will include forward-looking information.
About Calix
Calix (NYSE: CALX) is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their copper- and fiber-based networks and become the broadband provider of choice to their subscribers. For more information, visit the Calix website at .
Use of Non-GAAP Financial Information
The Company uses certain non-GAAP financial measures in this press release to supplement its consolidated financial statements, which are presented in accordance with GAAP. These non-GAAP measures include non-GAAP net income and non-GAAP basic and diluted income per share. These non-GAAP measures are provided to enhance the reader-s understanding of the Company-s operating performance as they primarily exclude certain non-cash charges for stock-based compensation and amortization of acquisition-related intangible assets, and non-recurring acquisition-related and other expenses, which the Company believes are not indicative of its core operating results. Management believes that the non-GAAP measures used in this press release provide investors with important perspectives into the Company-s ongoing business performance and management uses these non-GAAP measures to evaluate financial results and to establish operational goals. The presentation of these non-GAAP measures is not meant to be a substitute for results presented in accordance with GAAP, but rather should be evaluated in conjunction with those GAAP results. A reconciliation of the non-GAAP results to the most directly comparable GAAP results is provided in this press release. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.
Investor Inquiries:
David H. Allen
408-474-0080
You must be logged in to post a comment Login