Harmonic Q3 Profit Up

(RTTNews) - Harmonic Inc. (HLIT) posted third quarter net income of $8.74 million or $ 0.08 per share up from $1.53 million or $0.01 per share in the prior year.

Non-GAAP net income per share was $0.13 compared to $0.09 in the year ago period.

Total net revenue for the quarter rose to $155.74 million from $126.32 million in the prior year. This was driven by a 60% rise in Broadband segment revenue and 64% Video SaaS revenue growth.

Looking ahead for the fourth quarter, the company projects earnings per share to be in the range of $0.06 - $0.11 and net revenue of $151 million - $165 million. Analysts polled by Thomson Reuters expect the company to report earnings of $0.14 per share and revenues of $161.68 million for the fourth quarter. Analysts' estimates typically exclude special items.