Delays in broadband stimulus spending apparently will hurt earnings for Calix Networks at least through the fourth quarter, and possibly longer.

Calix said Thursday that it now expects December-quarter revenues to be $88 million to $92 million, down from the $104 million analysts had generally expected. Earnings per share will be 5 to 9 cents, not the consensus expectation of 21 cents.

The problem is that revenues from broadband stimulus wins are slow in coming, and some of the money might not show up unil 2015.

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“it could be a higher percentage than not,” said Calix CEO Carl Russo. Calix earnings report

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