Access equipment specialist Calix offered up an early preview of its Q3 numbers today, and the picture wasn't a pretty one.
Revenue and EPS are expected to fall in the ranges of $83-85M and $0.07-0.09 per share, respectively. That's well off guidance of $104M and $0.20, as well as analyst estimates which were similar. According to the company reflects a combination of a slowdown due to macroeconomic conditions, localized fiber shortages, and continued delays in stimulus awards.
While I hope this won't be the start of a new trend, the equipment business does tend to respond disproportionately to economic uncertainty, and it's no accident it was the first in the list of reasons. Might other pre-announcements come this week as the third quarter closes?
Calix's stock price is of course not faring too well so far today, but it had already been falling for much of the quarter.