SAN JOSE, Calif. (TSTIME) _ Calix Inc. (CALX) reported fourth-quarter net income of $11.9 million on Wednesday.
The San Jose, California-based company said it had earnings of 17 cents per share. Profit, adjusted for one-off income and expenses, came in at 34 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The cloud, software platforms, systems and services provider for communications service providers posted revenues of $244.5 million during the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $240.9 million.
For the year, the company reported earnings of $41 million, or 60 cents per share. Revenue was reported as $867.8 million.
For the current quarter ending March, Calix expects earnings per share to range from 24 cents to 30 cents.
The company said it expects revenue between $242 million and $248 million for the fiscal first quarter.
Calix shares are down 15% since the start of the year. In the closing minutes of trading on Wednesday, shares reached $57.95, up 36% over the past 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/TSTIME) using data from Zacks Investment Research. Access a Zacks stock report on CALX at https://www.zacks.com/TSTIME/CALX