Why Calix Stock Was Rising Sharply Today

Calix (NYSE: CALX) published its latest quarterly earnings report after market close on Wednesday, and investors reacted positively to this the following day. The specialty tech company's shares finished Thursday 20% higher in price, contrasting very well with the 0.9% slide of the S&P 500 index.

Crushing it on trailing results...

In its third quarter, Calix's revenue leaped 32% higher year over year to a new company record of over $265 million. On the bottom line, according to generally accepted accounting principles (GAAP), the company flipped dramatically to a profit of $15.7 million against a nearly $4 million loss in the year-ago quarter. On a non-GAAP (adjusted) and per-share basis, Calix's net profit was $0.44.

Image source: Getty Images.

Those two metrics trounced the average analyst estimates. The consensus prognosticator expectation for revenue was slightly over $246 million, while that for per-share, adjusted profitability stood at $0.34.

Calix, which focuses on solutions for the broadband service providers, said it added 20 new clients to its platform during the quarter.

...and guidance too

While investors were surely impressed by Calix's trailing performance, the company provided significant hope for its present situation as well. For its current (fourth) quarter, it guided for $267 million to $273 million in revenue, a range comfortably above the $251 million consensus analyst estimate. Ditto for its adjusted profitability forecast -- $0.35 to $0.41 per share against the pundit average of $0.32.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.