Disappointing quarter for Petaluma's Calix
Published: Tuesday, July 31, 2012 at 2:58 p.m.
Last Modified: Tuesday, July 31, 2012 at 2:58 p.m.
Petaluma-based Calix, which makes broadband technology for communications networks, reported disappointing second-quarter earnings on Tuesday.
Revenues fell to $78.9 million during the quarter ending June 30, down 19.4 percent from the same time last year, when Calix reported $98 million in revenue.
“Softness in demand across multiple consumer markets led to an unexpected slowdown in capital expenditures by service providers,” Calix CEO Carl Russo said in a statement.
Economic conditions and uncertainty about regulatory reforms contributed to the slowed spending, he said.
“In spite of these challenges, Calix maintained gross margins at expected levels while reducing inventories and producing another quarter of positive cash flow,” Russo said.
Core profits fell to $1.9 million, or 4 cents per fully diluted share, down from $7.8 million, or 16 cents per share, a year ago. The figures exclude non-cash charges and one-time expenses.
Calix had alerted shareholders earlier this month that second-quarter revenues would fall below its previous estimate of $93 to $97 million.
All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.
You'll find a number of new technology features available from this site. With personalized news sent straight to your mobile device.
post your stuff
Petaluma360.com is here for you to post your comments, photos, news and events with the community. Post it now!
Have something to say? Join the conversation!
Upload your photos of community events, holidays, pets, cute kids, breaking news and more, and vote for your favorites!
Submit your area events to encourage others in your community to attend.