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UPDATE 1-Calix IPO prices at top of range -market source
March 23, 2010 / 11:23 PM / 8 years ago

UPDATE 1-Calix IPO prices at top of range -market source

* Prices IPO at $13/shr vs $11-$13 range -mkt source

* Sells 6.3 mln shares, raises about $82.3 mln -mkt source

(Adds details)

NEW YORK, March 23 (Reuters) - Telecom equipment maker Calix Networks Inc (CALX.N) priced shares in its initial public offering at the top of the expected range on Tuesday, according to a market source.

The company sold 6.3 million shares for $13 each, raising about $82.3 million. It had planned to sell 6.3 million shares for $11 to $13 each.

Petaluma, California-based Calix sells hardware and software that allows communications service providers to network with their residential and business subscribers. It said in a regulatory filing that its competitors include Huawei Technologies Co Ltd [HWT.UL] and Motorola Inc MOT.N.

The company posted revenue of $232.9 million, 7 percent less than a year earlier. The company’s net loss rose nearly 74 percent to $22.4 million.

Underwriters were led by Goldman Sachs & Co and Morgan Stanley. Shares are expected to begin trading on the New York Stock Exchange under the symbol “CALX” on Wednesday. (Reporting by Clare Baldwin; Editing by Marguerita Choy)

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