Calix (NYSE: CALX) bucked the seasonal trend that has plagued other members of the telecom ecosystem as the vendor's Q1 2013 revenues rose 15.3 percent year-over-year revenue to $90.5 million.
Carl Russo, president and CEO of Calix, said in the earnings release that "These results reflect our success in penetrating new customer accounts and expanding our addressable market."
The company's non-GAAP net income for Q1 was $3.2 million, or $0.06 per fully diluted share. Its 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.
One of the key initiatives that Calix has been focused on is expanding its customer base outside of the U.S. market. During the quarter, it signed Italy's Interplanet and the UK-based Overbury Estate, a rural farming and residential community that is building a community fiber to the home (FTTH) network project that can deliver up to 1 Gbps speeds.
In addition to expanding its addressable market by completing the acquisition of Ericsson's access business last November, Calix introduced the Ethernet eXtensible Architecture (EXA) Powered E3-48C sealed Ethernet Service Access Node (ESAN). The E3 supports 48 ports of "combo" VDSL2 and PSTN services in addition to bonding and vectoring.
Shares of Calix were listed at $8.00, down 0.20, or 2.44 percent, in after-hours trading on Thursday on the New York Stock Exchange.
- see the earnings release
Earnings roundup: Wireline telecom earnings in the first quarter of 2013
Special report: Bonding telcos' love affair with copper through VDSL2
GPON drove wireline access growth in Q4 2012, says Dell'Oro
Sales from broadband stimulus growth drive Calix's Q4 revenuess
Calix names Kevin DeNuccio to its board