Harmonic Slips To Loss In Q1

(RTTNews) - Harmonic Inc. (HLIT) Tuesday reported first-quarter net loss of $5.4 million or $0.06 per share, compared to net income of $6.4 million or $0.06 per share in the same period last year.

GAAP loss from continuing operations were $0.06 per share, wider than $0.02 per share last year.

Adjusted earnings from continuing operations for the quarter was $2.8 million or $0.03 per share, down from $8.3 million or $0.08 per share in the prior year period.

On average, 4 analysts polled by Thomson Reuters expected the company to report a profit of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $108.03 million from $101.67 million last year, while three analysts expected revenues of $111.80 million.

Looking ahead to the second quarter, the company expects revenue in the range of $113.0 million to $123.0 million. Analysts currently expect second quarter revenue of $118.07 million.