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SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Calix Inc. (CALX) on Wednesday reported first-quarter net income of $9.6 million.
On a per-share basis, the San Jose, California-based company said it had net income of 14 cents. Earnings, adjusted for stock option expense and amortization costs, were 31 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The cloud, software platforms, systems and services provider for communications service providers posted revenue of $250 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $245.2 million.
For the current quarter ending in June, Calix expects its per-share earnings to range from 28 cents to 34 cents.
The company said it expects revenue in the range of $255 million to $261 million for the fiscal second quarter.
Calix shares have dropped 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $48.47, a climb of 22% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CALX">Zacks stock report on CALX at https://www.zacks.com/ap/CALX