Sponsored By

Casa Finally Gets Ready for $150M IPO

The cable equipment vendor had the swagger in 2015. Has it got the goods to finally go public in 2017?

Dan Jones

November 20, 2017

1 Min Read
Casa Finally Gets Ready for $150M IPO

Cable hardware provider Casa Systems is finally preparing for a $150 million initial public offering, after first talking to Light Reading about the possibility of listing its stock in 2015.

Andover, Mass.-based Casa Systems Inc. was formed in 2003. It lists Time Warner Cable Inc. (NYSE: TWC), Charter Communications Inc. and Vodafone Group plc (NYSE: VOD) among its customers.

Casa's CEO Jerry Guo was talking about an IPO with Light Reading as early as late spring 2015, citing a high growth rate and a positive cash flow. (See Casa Systems Lines Up an IPO.)

According to Casa's S-1 filing, the company generated revenues of $233.6 million during the nine months ended September 30, 2017, up 7.7% compared with the same period a year earlier. Operating income for the nine-month period was $81.8 million, up by 27.6% year-on-year, while net income came in at $7.7 million, or $0.89 per diluted share.

In the full year 2016, Casa generated revenues of $316.1 million and operating income of $114.8 million.

It plans to list under the symbol "CASA" on Nasdaq.

For more on Casa, see:

— Dan Jones, Mobile Editor, Light Reading

About the Author(s)

Dan Jones

Mobile Editor

Dan is to hats what Will.I.Am is to ridiculous eyewear. Fedora, trilby, tam-o-shanter -- all have graced the Jones pate during his career as the go-to purveyor of mobile essentials.

But hey, Dan is so much more than 4G maps and state-of-the-art headgear. Before joining the Light Reading team in 2002 he was an award-winning cult hit on Broadway (with four 'Toni' awards, two 'Emma' gongs and a 'Brian' to his name) with his one-man show, "Dan Sings the Show Tunes."

His perfectly crafted blogs, falling under the "Jonestown" banner, have been compared to the works of Chekhov. But only by Dan.

He lives in Brooklyn with cats.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like