SAN JOSE, Calif. (AP) _ Calix Inc. (CALX) on Wednesday reported fourth-quarter net income of $11.9 million.
The San Jose, California-based company said it had profit of 17 cents per share. Earnings, adjusted for one-time gains and costs, came to 34 cents per share.
The results surpassed 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 revenue of $244.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $240.9 million.
For the year, the company reported profit of $41 million, or 60 cents per share. Revenue was reported as $867.8 million.
For the current quarter ending in March, Calix expects its per-share earnings to range from 24 cents to 30 cents.
The company said it expects revenue in the range of $242 million to $248 million for the fiscal first quarter.
Calix shares have dropped 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.95, an increase of 36% in the last 12 months.