Calix reports drop in first-quarter sales

Petaluma telecommunications equipment developer Calix reported first-quarter sales dropped to $85.8 million, down from $90.5 million a year ago.

"While the first quarter started off slowly as expected, we saw increasing demand as the quarter progressed," Calix President and CEO Carl Russ said in a statement.

The company reported a first-quarter loss $1.5 million, or 3 cents per share, excluding non-cash charges for stock-based compensation and other expenses which the company believes are not indicative of its core operating results. A year ago, it reported non-GAAP profits of $3.2 million, or 6 cents per share.

Actual losses grew to $10.0 million, or 20 cents per share, in the first quarter, compared to a loss of $6.2 million, or 13 cents per share, a year ago.