PETALUMA, CA — (Marketwired) — 02/03/15 — Calix, Inc. (NYSE: CALX) today announced unaudited financial results for the fourth quarter ended December 31, 2014. Revenue for the fourth quarter of 2014 was $111.6 million, an increase of 18.8% compared to $94.0 million for the fourth quarter of 2013 and an increase of 5.5% on a sequential basis, compared to $105.8 million for the third quarter of 2014.
“In addition to achieving new, higher revenue levels for the quarter and for the year, we continued to execute on our Unified Access vision,” said Carl Russo, Calix president and CEO. “Our new fiber-enabled GigaCenters are off to a great start with orders from more than 100 service provider customers since the product launch, strengthening our leadership position in the accelerating gigabit broadband access market,” added Russo.
The company–s non-GAAP net income for the fourth quarter of 2014 was $6.8 million, or $0.13 per fully diluted share, compared to a non-GAAP net income of $1.5 million, or $0.03 per fully diluted share, for the fourth quarter of 2013. A reconciliation of GAAP and non-GAAP results is included as part of this release.
The GAAP net loss for the fourth quarter of 2014 was $1.7 million, or $(0.03) per basic and diluted share, compared to a GAAP net loss of $6.5 million, or $(0.13) per basic and diluted share, for the fourth quarter of 2013. A reconciliation of our fourth quarter 2014 operating results from non-GAAP to GAAP is provided below:
In conjunction with this announcement, Calix will host a conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) today to discuss its fourth quarter 2014 financial results. A live audio webcast and replay of the call will be available in the Investor Relations section of the Calix web site at .
Live call access information: Dial-in number: (877) 407-4019 (U.S.) or (201) 689-8337 (outside the U.S.)
The conference call and webcast will include forward-looking information.
Calix (NYSE: CALX) is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their copper- and fiber-based networks and become the broadband provider of choice to their subscribers. For more information, visit the Calix website at . For more information about gigabit networks, visit .
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 (loss) and non-GAAP basic and diluted income (loss) per 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 acquisition-related and other expenses, which the Company believes are not indicative of its core operating results. Management believes that the non-GAAP measures used in this press release provide investors with important perspectives 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 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
408-474-0080
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