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Calix Reports Fourth Quarter and Fiscal Year 2011 Financial Results




PETALUMA, CA — (Marketwire) — 02/07/12 — , Inc. (NYSE: CALX) today announced unaudited financial results for the fourth quarter ended December 31, 2011. Revenue for the fourth quarter of 2011 was $91.6 million, an increase of 9.5% compared to $83.7 million for the third quarter of 2011, and flat compared to $91.7 million for the fourth quarter of 2010.

“2011 ended on a strong note as a result of increasing demand and solid execution in all areas of the business,” said Carl Russo, Calix president and CEO. “Looking back on the year, we were pleased with the progress we made strengthening our organization, expanding our Unified Access portfolio, and delivering on our vision of network transformation to our over 1000 communications service provider customers worldwide.”

Non-GAAP net income for the fourth quarter of 2011 was $3.7 million, or $0.08 per fully diluted share, an increase of 5.4% compared to non-GAAP net income of $3.6 million, or $0.07 per fully diluted share for the third quarter of 2011, and a decrease of 65.0% compared to non-GAAP net income of $10.7 million, or $0.26 per fully diluted share, in the fourth quarter of 2010.

GAAP net loss for the fourth quarter of 2011 was $5.2 million, or $(0.11) per basic and diluted share, compared to a GAAP net loss of $6.9 million, or $(0.15) per basic and diluted share for the third quarter of 2011, and compared to a GAAP net loss of $0.7 million, or $(0.02) per basic and diluted share reported for the fourth quarter of 2010. A reconciliation of our fourth quarter 2011 operating results from non-GAAP to GAAP is provided below (in thousands, except per share data):

In conjunction with this announcement, Calix will host a conference call to discuss its fourth quarter and fiscal year 2011 results at 1:30 p.m. PST (4:30 p.m. EST) today. Interested parties can listen to a live webcast of the conference call by visiting the at . To access the live webcast, please log in 10 minutes prior to the start of the call to download and install any necessary audio software. Interested parties may also dial into the live conference call at (877) 407-4019 (U.S.) or (201) 689-8337 (outside the U.S.). The conference call and webcast will include forward-looking information. A replay of the conference call will be available approximately one hour after the live call concludes on the company-s web site at .

Prior to the conference call, Calix will also post supplemental financial data on the at in order to provide the investment community additional time to analyze the company-s results and prepare for the call with management.

Calix (NYSE: CALX) is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enable communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. For more information, visit the Calix website at .

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 and non-GAAP basic and diluted net income per common 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 merger-related and other expenses, which the Company believes are not indicative of its core operating results. Merger-related and other expenses largely include the charge resulting from the required revaluation of Occam inventory to its estimated fair value, legal and professional expenses, and severance and integration-related expenses and inventory-related charges associated with our merger with Occam. Management believes that the non-GAAP measures used in this press release provide investors with important perspective 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 the financial schedules portion of 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
510-360-3703





Posted by on 7. February 2012. Filed under Telecommunication Equipment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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