Calix Inc CALX shares are trading lower in Monday's after-hours session after the company reported third-quarter financial results and issued guidance.
What To Know: Calix reported quarterly earnings of 45 cents per share which beat the analyst consensus estimate of 36 cents, a 32.35% increase over earnings of 34 cents per share from the same period last year.
The company reported quarterly sales of $263.83 million which beat the analyst consensus estimate of $263.23 million, an 11.64% increase over sales of $236.33 million from the same period last year.
The company broke down revenue based on customer size as well. For example, revenue from small customers was 74% of revenue, down from 76% for the prior quarter.
In a letter to the shareholders, the company commented on the results, stating, "In the third quarter of 2023, the Calix team executed our tenth consecutive quarter of sequential revenue growth and our fifth consecutive quarter of sequential gross margin expansion, once again demonstrating predictability in our performance due to the unique strength of our platform and managed services model. We delivered record revenue of $263.8 million, record GAAP gross margin of 53.3% and non-GAAP gross margin of 53.8%."
The company has fourth-quarter earnings per share between 33 cents and 39 cents, versus the estimate of 35 cents. Revenue is estimated to be between $261 million and $267 million, versus the $265.68 million estimate.
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CALX Price Action: Shares of CALX were down 6.06% at $40 in the after-hours session at the time of publication, according to Benzinga Pro.
Photo: James Osborne from Pixabay
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