RTTNews | Oct 21, 2020 10:38AM EDT

10:38 Wednesday, October 21, 2020 (RTTNews.com) - Shares of Calix, Inc. (CALX) a provider of cloud and software platforms, are gaining more than 26 percent or $5.53 in Wednesday's morning trade at $26.65, after touching a new 52-week high of $27.78 as the company's third-quarter results beat analysts' expectations and it also provided outlook for the fourth quarter above estimates.

Tuesday, Calix reported quarterly net income of $20.54 million or $0.32 per share, compared to net loss of $3.38 million or $0.06 per share in the year-ago period. Adjusted earnings for the quarter were $0.40 per share. Revenue grew 32 percent to $150.51 million from $114.49 million last year.

Analysts polled by Thomson Reuters had a consensus estimate for earnings of $0.20 per share for the quarter on revenues of $129.44 million.

For the fourth quarter, the company projects adjusted earnings in a range of $0.30 to $0.34 per share on revenues in a range of $157 million to $161 million. The Street expects earnings of $0.21 per share on revenues of $134.59 million.

Calix has traded in a range of $5.61 to $27.78 in the past 52 weeks.

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