CALX - Calix slumps 5% despite record setting gross margin and net income figures

Calix ([[CALX]] -3.1%) reports Q4 revenue of $170.03M, up 41.5% Y/Y, beats consensus by $10.15M.Systems revenue for the fourth quarter of 2020 increased 44% compared to the year-ago quarter on strong demand.Compared to the prior quarter, services revenue increased 11% due to increased project management work.Revenue breakdown: Domestic revenue was 85% of total revenue, increased 41% Y/Y; International revenue was 15% of total revenue, increased 43% Y/Y.Driven by favorable product and customer mix, both GAAP and non-GAAP gross margin set quarterly records, 52.4% and 53.2% respectively.Record quarterly net profit on both a GAAP and a non-GAAP basis, GAAP net income increased $23.6M Y/Y from $0.5M to $24.1M; non-GAAP net income increased $24.4M from $5M to $29.4M.Non-GAAP EPS of $0.45 beats consensus by $0.12; GAAP EPS of $0.37 beats consensus by $0.10.Q1 2021 Guidance:Cash, cash equivalents and marketable securities of $133.8MInteresting read by SA Contributor, 'Calix: Face The Facts'Previously: Calix EPS beats by $0.12, beats on revenue (Jan.

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Calix slumps 5%, despite record setting gross margin and net income figures