Calix (NYSE: CALX) is once again rode a revenue wave in Q1 2011 as the vendor of choice for various broadband stimulus project with $71.5 million in revenue, a 48.3 percent increase over the $48.2 million it reported in Q1 2010.
During the quarter, Calix reported Non-GAAP net income of $3.8 million, or $0.09 per fully diluted share, an increase of 179.2 percent compared to non-GAAP net loss of $4.7 million, or $(0.15) per fully diluted share, for the first quarter of 2010.
At the same time, the vendor reported that its integration of Occam Networks, a deal that the company finalized in February after initial opposition from stockholders, is on track.
"Our integration of Occam Networks is progressing quickly and smoothly, resulting in accelerating innovation across our Unified Access portfolio and deeper relationships with our over 900 customers," said Carl Russo, president and CEO of Calix in the earnings release.
With the integration of Occam progressing, one area of growth outside of the ongoing broadband stimulus awards in the U.S. will likely be an increasing emphasis on the international markets. While Calix did not provide any specific guidance about international growth, the vendor recently bolstered its international capabilities by appointing 20-year Cisco veteran Andy Lockhart to a new position of vice president, international sales and marketing.
Although both Calix and Occam both were making their own separate inroads in the international market, they can now tap Lockhart's expertise. During his tenure, Lockhart created Cisco Japan, building Cisco's Asia Pacific partner network, establishing Cisco's UK Sales operation, and launching Cisco's European Service Provider organization.
- see the release
Earnings Report: Wireline in the first quarter of 2011
Calix rode the broadband adoption wave again in Q4
Calix wraps up acquisition of Occam Networks
Calix Q3: Broadband stimulus awards drive 27 percent revenue increase
Calix to buy Occam Networks