Shares of Calix dropped 14% to $25.35 in post-market trading after the company guided for lower-than-expected revenue in the second quarter.
The broadband-software company said Monday it expects second-quarter revenue of $197 million to $203 million, dropping significantly from reported revenue of $261 million for the same period a year earlier. Analysts polled by FactSet had forecast higher revenue of $232.8 million.
The company also guided for losses per share of 19 cents to 13 cents, and adjusted earnings per share of 3 cents to 9 cents.
The company’s outlook comes as it forecasts lower appliance shipments in the second quarter.