PETALUMA, CA — (Marketwired) — 10/29/14 — Calix, Inc. (NYSE: CALX) today announced unaudited financial results for the third quarter ended September 27, 2014. Revenue for the third quarter of 2014 was $105.8 million, an increase of 2.1% compared to $103.6 million for the third quarter of 2013.
“In addition to achieving record revenues in the quarter, we continued to innovate and expand our product line and our customer base by launching two entirely new solutions,” said Carl Russo, Calix president and CEO.
“We launched our new GigaCenters, the industry–s first fiber-based products to unleash the power of Carrier-Class Wi-Fi in the home; and the Compass Open Link Cable software solution, allowing cable operators to deliver gigabit services over fiber while continuing to use traditional back office and DOCSIS command and control procedures. These ground-breaking offerings enable our customers to extend the gigabit experience to their subscribers at an accelerated pace and in a cost-effective manner.”
The company–s non-GAAP net income for the third quarter of 2014 was $4.6 million, or $0.09 per fully diluted share, compared to a non-GAAP net income of $10.2 million, or $0.20 per fully diluted share, for the third quarter of 2013. A reconciliation of GAAP and non-GAAP results is included as part of this release.
The GAAP net loss for the third quarter of 2014 was $3.8 million, or $(0.08) per basic and diluted share, compared to a GAAP net income of $0.5 million, or $0.01 per basic and diluted share, for the third quarter of 2013. A reconciliation of our third quarter 2014 operating results from non-GAAP to GAAP is provided below:
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 third quarter 2014 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.
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 . For more information about gigabit networks, visit .
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 (loss) and non-GAAP basic and diluted income (loss) 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.
David H. Allen
408-474-0080
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