Calix (CALX) FY2019 results: revenue $424 million, down 3.8% on the year
Calix, Inc. (CALX) reported revenue of $424 million for fiscal 2019, the year ended 31 December 2019, down 3.8% on the year before. Net income was -$18 million, and diluted earnings per share $-0.32. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$424 million
-3.8% on the year
FY2012FY2019
Operating margin
-3.6%
-4.2% a year earlier
FY2012FY2019
Net income
-$18 million
FY2012FY2019
Diluted EPS
-$0.32
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
424
441
510
-3.8%
Cost of revenue
236
244
337
-3.1%
Gross profit
188
197
173
-4.8%
Gross margin
44.3%
44.7%
33.9%
Research and development
81.2
90.0
128
-9.8%
Operating income
-15.4
-18.5
-81.6
Operating margin
-3.6%
-4.2%
-16.0%
Pre-tax income
-16.5
-18.8
-81.8
Income tax
1.2
0.5
1.2
+119.2%
Net income
-17.7
-19.3
-83.0
Net margin
-4.2%
-4.4%
-16.3%
Diluted EPS
-$0.32
-$0.37
-$1.66
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4.7
3.6
-62.8
+30.7%
Capital expenditure
13.4
10.4
8.0
+28.1%
Free cash flow
-8.7
-6.9
-70.8
Free cash flow margin
-2.1%
-1.6%
-13.9%
Cash from investing
-13.4
-0.1
19.7
Cash from financing
6.0
7.5
32.0
-20.3%
Depreciation and amortisation
n/a
9.2
11.0
Share-based compensation
11.2
17.5
12.4
-36.0%
Buybacks
n/a
0.0
0.0
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
55m
53m
n/a
+4.5%
Shares outstanding at period end
56m
54m
52m
+4.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
154
152
145
+1.4%
Debt
30.0
30.0
30.0
0.0%
Operating lease liabilities
14.3
0.0
n/a
Other liabilities
118
135
120
-12.3%
Total liabilities and equity
317
317
295
-0.1%
Fixed assets
21.5
24.9
15.7
-13.7%
Goodwill
116
116
116
0.0%
Intangible assets
12.1
0.0
n/a
Investments
n/a
n/a
0.0
Securities held for sale or to maturity
0.0
n/a
n/a
Cash and equivalents
46.8
49.6
39.8
-5.7%
Receivables
46.5
67.0
80.4
-30.6%
Inventory
40.2
50.2
31.5
-19.9%
Other assets
33.5
9.1
11.5
+266.4%
Total assets
317
317
295
-0.1%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.