Calix reports Q1 EPS 21c, consensus 20c

Reports Q1 revenue $226.3M, consensus $228.14M. The company said: “For the first quarter of 2024, revenue was $226.3M, representing a decrease of 15% from the prior quarter and 9% compared with the same quarter a year ago. Revenue EDGE revenue decreased by 21% from the prior quarter due to lower appliance shipments primarily as a customer slowed deliveries as it reevaluates its capital allocations and was up 7% compared with the year ago quarter as both new and existing customers continued to add subscribers. Intelligent Access EDGE revenue was down 16% from the prior quarter primarily due to the lower shipments to a large customer accepting final deliveries for their current capital expenditure cycle as they plan for new network builds and continuing indecision by customers on new network builds as they pursue government stimulus and declined 13% compared with the year ago quarter.”