Calix reports revenue drop, citing economy
Published: Thursday, October 25, 2012 at 6:36 p.m.
Last Modified: Thursday, October 25, 2012 at 6:36 p.m.
Petaluma telecom equipment developer Calix on Thursday reported revenues have dropped 2.8 percent over the past year, attributing the decline to sluggish economic conditions.
The company reported $81.3 million in revenue for the third quarter, down from $83.7 million the same period a year ago.
“The modest year-over-year decrease in revenue confirms the challenging macro-economic environment that the entire communications equipment segment has seen,” Carl Russo, Calix president and CEO, said in a statement.
Revenues increased 3 percent from the second quarter, which Russo said was evidence of “our strengthening competitive position moving forward.”
Adjusted profits fell to $1.8 million, or 4 cents per diluted share, for the period ending Sept. 29. A year ago, the company reported adjusted profits of $3.6 million, or 7 cents per diluted share, for the same period.
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