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Calix reports Q2 revenue of $99.13m, up 8.9% Q/Q, net loss of $5.78m
Announced Date: 7/28/2015 Published Date: 7/29/2015

Calix reported unaudited financial results for the second quarter ended June 27, 2015 as follows:


  1. Revenue for the second quarter of 2015 of $99.13 million, up 8.9% from $91.04 million in the preceding first quarter and up 1.1% compared to $98.00 million for the second quarter of 2014.

  2. Gross profit for the second quarter of 2015 of $48.29 million, up 13.6% from $42.49 million in the preceding first quarter and up 9.1% compared to $44.34 million for the second quarter of 2014.

  3. R&D expenditure for the second quarter of 2015 of $22.85 million, up 4.1% from $21.91 million in the preceding first quarter and up 16.9% compared to $19.54 million for the second quarter of 2014.

  4. SG&A expenditure for the second quarter of 2015 of $28.65 million, down 3.4% from $29.91 million in the preceding first quarter and up 9.6% compared to $26.14 million for the second quarter of 2014.

  5. Total operating expenditure for the second quarter of 2015 of $54.05 million, down 0.6% from $54.38 million in the preceding first quarter and up 12.1% compared to $48.23 million for the second quarter of 2014.


  6. On a GAAP basis, a net loss for the second quarter of 2015 of $5.78 million, versus a net loss of $11.93 million in the preceding first quarter and a net loss of $3.95 million for the second quarter of 2014.

    On a non-GAAP basis, net income for the second quarter of 2015 of $3.25 million, versus a net loss of $3.44 million in the preceding first quarter and net income of $5.09 million for the second quarter of 2014.
  7. Cash and cash equivalents of $39.67 million as of June 27, 2015, compared with 429.62 million as at March 28,2015 and $48.83 million as at December 31, 2014.


Additional notes

Calix noted that during the second quarter it saw strong demand from Tier 2 and 3 customers, while on the product side its GigaCenter solution experienced significant growth with shipments to over 300 service providers since launch in September 2014.

During the quarter the company spent $3.38 million under its previously announced $40 million stock repurchase scheme.



Outlook

For the third quarter, Calix expects revenue of between $107 and $111 million, representing sequential growth of 10.0% and year on year growth of 3.0% at the midpoint.