Harmonic: 3Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Harmonic Inc. (HLIT) on Monday reported a loss of $7.8 million in its third quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 9 cents. Earnings, adjusted for stock option expense and amortization costs, came to 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The video services provider posted revenue of $100.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $99 million.
For the current quarter ending in December, Harmonic expects its per-share earnings to range from 1 cent to 7 cents.
The company said it expects revenue in the range of $104.7 million to $117.7 million for the fiscal fourth quarter.
Harmonic expects full-year earnings in the range of 9 cents to 16 cents per share, with revenue ranging from $394.5 million to $407.5 million.
Harmonic shares have increased 33 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.57, a climb of 95 percent in the last 12 months.