Reuters: Global Markets: Calix says profit to miss estimates, shares slide

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Calix says profit to miss estimates, shares slide Jul 11th 2012, 20:34 Wed Jul 11, 2012 4:34pm EDT (Reuters) - Telecom equipment maker Calix Inc (CALX.N) estimated a second-quarter profit below analysts' expectations, citing lower spending by customers, sending its shares down as much as 26 percent after the bell. The company estimated adjusted earnings of 4 cents per share on revenue of about $79 million for the second quarter. Analysts on average were expecting 10 cents per share, on revenue of $95.1 million, according to Thomson Reuters I/B/E/S. Network gear makers have been facing slowing demand for their products this year as telecom carrier customers cut spending amid a sluggish U.S. economy and weakness in Europe. California-based Calix counts CenturyLink Inc (CTL.N) and Frontier Communications Corp (FTR.O) among its clients. Calix shares were down 24 percent at $4.93 after the bell on Wednesday. They closed at $6.48 on the New York Stock Exchange.

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