Harmonic: 2Q Earnings Snapshot

July 30, 2018

SAN JOSE, Calif. (AP) _ Harmonic Inc. (HLIT) on Monday reported a loss of $2.9 million in its second quarter.

The San Jose, California-based company said it had a loss of 3 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 5 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The video services provider posted revenue of $99.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $95.5 million.

For the current quarter ending in October, Harmonic expects its results to range from a loss of 5 cents per share to earnings of 3 cents per share.

The company said it expects revenue in the range of $93 million to $103 million for the fiscal third quarter.

Harmonic expects full-year results to range from a loss of 1 cent per share to earnings of 16 cents per share, with revenue ranging from $388 million to $411 million.

In the final minutes of trading on Monday, the company’s shares hit $4.73. A year ago, they were trading at $4.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLIT at https://www.zacks.com/ap/HLIT

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