Buoyed by a surge of customer wins deploying their platforms for new broadband stimulus projects, Calix (NYSE: CALX) saw its revenue rise to $75.5 million in Q3, up 27 percent from revenue reported for Q3 2009 of $59.6 million.
In particular, Carl Russo, Calix' president and CEO, said what contributed to Q3 growth was a number of customer wins for its E7 Ethernet Services Access platform and a number of new product releases.
As of the second quarter, Russo said that over 100 customers have purchased the E7 platform in only its second quarter of availability, "making it one of the fastest adopted Calix platforms in the company's history."
Since the second quarter, Calix won an additional 50 customers for its E7 Ethernet platform, bringing the total to 150 customers in North America, Latin America and the Caribbean. What's more, 17 out of 18 broadband stimulus customers are using the E7 platform.
Just the same, Calix saw a number of deployments of its release 7.0 of its C7 platform, one that has helped its customers migrate from TDM, SONET and ATM to native switched Ethernet delivery.
In addition to adoption of the C7 and E7, Calix released a number of new products. On the MDU and remote terminal side, Calix introduced a family of indoor optical network terminals (ONT) and the E3 sealed Ethernet node to reach remote areas. Calix also addressed CO-based deployments with its ESA-powered VDSL 24-port card for the C7 platform and a high density card for the E7. In addition, Calix introduced a software release that adds Active Ethernet support across its entire ONT portfolio and PWE3 pseudowire circuit emulation to its business ONTs.
Russo said that these "new solutions further our fiber forward strategy, which was emphasized by a major milestone announcement-the shipping of our 1 millionth access port."
Beyond product releases, one the biggest moves Calix made during the third quarter was its bid to acquire last mile rival Occam Networks for $171 million in September. While the acquisition still needs to go through the obligatory regulatory and stockholder approval process, Calix expects to complete the acquisition in either Q4 2010 or Q1 2011.
However, not everyone is happy about Calix's purchase of Occam Networks. Three shareholders that own a 19 percent in Occam Networks believe they have gotten a raw deal.
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