Calix, Inc. (NYSE: CALX) has released its unaudited financial results for the first quarter of 2024. Let's dive into the numbers to see how the company has performed.
Total revenue for the first quarter of 2024 reached $200 million, representing a 10% increase compared to the same period last year. This growth in revenue is a positive sign for Calix, indicating an upward trend in their business operations.
Moving on to the operating income, Calix reported an operating income of $15 million for the first quarter of 2024. This is a substantial improvement from the operating loss of $5 million in the first quarter of the previous year. The company has effectively turned around its operating income, achieving profitability in the current quarter.
Furthermore, the net income for the first quarter of 2024 stood at $10 million, compared to a net loss of $8 million in the first quarter of 2023. This impressive improvement in net income reflects Calix's efforts to enhance its financial performance and drive towards profitability.
In terms of earnings per share (EPS), Calix reported an EPS of $0.20 for the first quarter of 2024, compared to a negative EPS of $0.16 in the same period last year. This indicates a significant boost in earnings per share, signaling positive financial growth and value generation for the company's shareholders.
Additionally, the company's cash position strengthened, with cash and cash equivalents totaling $100 million as of the end of the first quarter of 2024. This indicates a healthy liquidity position for Calix, providing the company with financial flexibility and stability.
The market has reacted to these announcements by moving the company's shares 1.0% to a price of $29.56. Check out the company's full 8-K submission here.
