Calix (CALX) FY2018 results: revenue $441 million, down 13.5% on the year
Calix, Inc. (CALX) reported revenue of $441 million for fiscal 2018, the year ended 31 December 2018, down 13.5% on the year before. Net income was -$19 million, and diluted earnings per share $-0.37. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$441 million
-13.5% on the year
FY2011FY2018
Operating margin
-4.2%
-16.0% a year earlier
FY2011FY2018
Net income
-$19 million
FY2011FY2018
Diluted EPS
-$0.37
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
441
510
459
-13.5%
Cost of revenue
244
337
258
-27.7%
Gross profit
197
173
201
+14.2%
Gross margin
44.7%
33.9%
43.9%
Research and development
90.0
128
107
-29.5%
Operating income
-18.5
-81.6
-28.1
Operating margin
-4.2%
-16.0%
-6.1%
Interest expense
n/a
n/a
0.6
Pre-tax income
-18.8
-81.8
-27.1
Income tax
0.5
1.2
0.3
-57.4%
Net income
-19.3
-83.0
-27.4
Net margin
-4.4%
-16.3%
-6.0%
Diluted EPS
-$0.37
-$1.66
-$0.56
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
3.6
-62.8
24.4
Capital expenditure
10.4
8.0
9.8
+29.9%
Free cash flow
-6.9
-70.8
14.6
Free cash flow margin
-1.6%
-13.9%
3.2%
Cash from investing
-0.1
19.7
12.1
Cash from financing
7.5
32.0
-9.2
-76.6%
Depreciation and amortisation
9.2
11.0
14.1
-16.4%
Share-based compensation
17.5
12.4
14.3
+41.3%
Buybacks
0.0
0.0
12.8
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
53m
n/a
n/a
Shares outstanding at period end
54m
52m
49m
+4.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
152
145
213
+4.8%
Debt
30.0
30.0
0.0
0.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
135
120
143
+12.5%
Total liabilities and equity
317
295
355
+7.5%
Fixed assets
24.9
15.7
18.0
+59.1%
Goodwill
116
116
116
0.0%
Intangible assets
0.0
n/a
0.8
Investments
n/a
0.0
27.7
Cash and equivalents
49.6
39.8
50.4
+24.8%
Receivables
67.0
80.4
51.3
-16.6%
Inventory
50.2
31.5
44.5
+59.1%
Other assets
9.1
11.5
46.5
-20.7%
Total assets
317
295
355
+7.5%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.