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Calix Inc (NYSE:CALX) reported mixed first-quarter financial results, after the closing bell on Monday.
Calix reported a first-quarter FY24 sales decline of 9.5% year-on-year to $226.31 million, missing the analyst consensus estimate of $228.139 million. Adjusted EPS of 21 cents beat the consensus estimate of 20 cents, according to data from Benzinga Pro.
Gross margin for the quarter expanded 300 basis points to 54.2% and the gross profit dropped 4.3% to $122.6 million.
Calix said it sees second-quarter revenue of $197 million – $203 million (consensus $232.76 million) and gross margin of 53.55% – 55.55%. Calix expects second-quarter adjusted EPS of $0.03 – $0.09 versus an estimate of $0.24.
Calix shares fell 5.2% to close at $28.03 on Tuesday.
These analysts made changes to their price targets on Calix following earnings announcement.
Posted In: CALX