Calix Reports Q4 Loss and Forecasts Drop in Revenue for 2024

1 Mins read

Shares of Calix, a broadband-software company, experienced a post-market decline after announcing a loss in the fourth quarter and predicting a decrease in revenue for the upcoming year. The stock dropped 22% to $34.74 during after-hours trading, following a 3.3% increase at Monday’s close. Despite this setback, Calix shares have seen a 35% increase in the past three months.

In the latest financial report, Calix disclosed a loss of $4.1 million, or 6 cents per share, in comparison to a profit of $11.9 million, or 17 cents per share, during the same period last year. The company attributed the loss primarily to inventory and component liability charges incurred in Q4. These charges were related to ceasing shipments of a legacy product that constituted only a small portion of overall sales.

Despite the loss, revenue demonstrated growth, rising 8% to reach $264.7 million—slightly exceeding the forecasted $264.4 million predicted by analysts polled by FactSet.

However, Calix anticipates a decline in revenue for the quarter ending March 30, projecting figures between $225 million and $231 million. This would mark a drop from the previous year’s $250 million in the same period. Analysts surveyed by FactSet expect revenue to amount to $267.5 million during this timeframe.

Calix attributes the anticipated decline in revenue to several significant customers postponing their purchases in early 2024 to evaluate capital spending. The San Jose, Calif.-based company remains focused on adapting to these market conditions.

Related posts

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

41 − = 32