Calix's Q4 revenue jumps 3 percent year-over-year to $94M
Calix's (NYSE: CALX) fourth-quarter 2013 revenue rose 3 percent year-over-year to $94 million, up from $91.4 million in the fourth quarter of 2012 and meeting the preliminary results it revealed in January.
However, revenue did decline sequentially from $103.6 million in the third quarter of 2013 due to a different mix and slower than expected sales to service providers. Analysts had forecast the vendor would report $100.5 million in sales and earnings of 7 cents a share for the fourth quarter of 2013.
One of the big contributors to its growth in the quarter was found in the international market where sales jumped 75 percent year-over-year from the fourth quarter of 2012 to $13.6 million. Alternatively, domestic sales declined 3.8 percent to $80.4 million
"During 2013 we took important steps to expand our customer footprint and strengthen our business," said Carl Russo, president and CEO of Calix. "Our 16 percent revenue growth and improved margins in 2013 continue to reflect the increasing value Calix customers place on transforming their access networks."
The vendor's non-GAAP net income for the fourth quarter of 2013 was $1.5 million, or $0.03 per fully diluted share, in line with the company's preliminary results announced on Jan. 8. Non-GAAP net income was $2.9 million, or $0.06 per fully diluted share, for the fourth quarter of 2012.
Shares of Calix closed at $7.95, down 2 cents or 0.25 percent, at the end of Tuesday trading on the New York Stock Exchange.
- see the earnings release
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