Last-mile gear provider Calix--which went public in March with an $82.3 million IPO and has made hay with contracts related to the Broadband Initiative Program--reported a second quarter GAAP net loss of $3.2 million, or pro forma 9 cents per share, a 64 percent improvement over 2Q09, when it booked a GAAP net loss of $8.8 million.
But the company's first post-IPO earnings report also had some good news. The Pentaluma, Calif.-based firm said it had a 50 percent increase in revenue for the quarter to $71.7 million from $47.8 million a year ago.
"Second quarter results were ahead of our expectations and represented strong growth and increased market momentum," said Calix president and CEO Carl Russo. "Communications service providers continued to leverage the increasing strength of our Unified Access portfolio to bring 'Fiber Forward' in their networks. As we look into the third quarter, we see a clear path to achieving our goals, but we will continue to manage our business closely as we monitor the macroeconomic climate."
Calix also announced that long-time board of directors member Paul Ferris, general partner at Azure Capital Partners, has resigned effective July 20, 2010.
- see this release
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