Calix Increases Stock Repurchase Authorization by An Additional $100 Million

Rhea-AI Summary

Calix, Inc. (NYSE: CALX) announced an additional $100 million authorization to repurchase the Company’s common stock under the existing stock repurchase program. The repurchases can be made using various methods, including open market purchases and privately negotiated transactions. The timing, price, and size of the purchases will depend on stock prices, economic and market conditions, and the Company’s capital allocation strategy.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Calix, Inc. (NYSE: CALX) today announced that its board of directors increased the authorization to repurchase the Company’s common stock by an additional $100 million under the existing stock repurchase program.

Under the repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of the purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations consistent with the Company’s capital allocation strategy. The stock repurchase program does not obligate Calix to purchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time.

About Calix

Calix, Inc. (NYSE: CALX)—Broadband service providers of all sizes leverage the Calix platform and teams to simplify their business and excite their subscribers to grow the value of their business and for their communities for generations. The democratizing power of the platform and portfolio of managed services enables them to operate efficiently, acquire subscribers, and deliver exceptional experiences. Calix is dedicated to driving continuous improvement in partnership with our growing ecosystem to support the transformation of our customers and their communities.

Forward-Looking Statements

This press release contains forward-looking statements that are based upon management’s current expectations and are inherently uncertain. Forward-looking statements relate to, but are not limited to, Calix’s stock repurchase program. Forward-looking statements are based upon information available to us as of the date of this release, and we assume no obligation to revise or update any such forward-looking statement to reflect any event or circumstance after the date of this release, except as required by law. Actual results and the timing of events could differ materially from current expectations based on risks and uncertainties affecting Calix’s business. The reader is cautioned not to rely on the forward-looking statements contained in this press release. Additional information on potential factors that could affect Calix’s results and other risks and uncertainties are detailed in its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K filed with the SEC and available at www.sec.gov.

Calix and the Calix logo are trademarks or registered trademarks of Calix and/or its affiliates in the U.S. and other countries. A listing of Calix’s trademarks can be found at https://www.calix.com/pages/trademarks.html. Third-party trademarks mentioned are the property of their respective owners.

Category: Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116136035/en/

Press Inquiries:

Zach Burger

669-369-1991

zach.burger@calix.com

Investor Inquiries:

Jim Fanucchi

investorrelations@calix.com

Source: Calix, Inc.

FAQ

What did Calix, Inc. announce regarding stock repurchase?

Calix, Inc. announced an additional $100 million authorization to repurchase the Company’s common stock under the existing stock repurchase program.

How will the repurchases be made?

The repurchases can be made using a variety of methods, including open market purchases, privately negotiated transactions, or other means, in accordance with legal requirements.

What factors will determine the timing, price, and size of the purchases?

The timing, price, and size of the purchases will depend on prevailing stock prices, general economic and market conditions, and the Company’s capital allocation strategy.

Is Calix, Inc. obligated to purchase a specific dollar amount or number of shares of common stock?

The stock repurchase program does not obligate Calix to purchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time.