Harmonic Q4 Profit Rises

(RTTNews) - Harmonic Inc. (HLIT) reported that its fourth-quarter net income rose to $5.57 million or $0.06 per share from $3.33 million or $0.04 per share in the prior year. Non-GAAP net income per share was $0.12, compared to $0.11 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter was $122.2 million, up 7.5% from last year. Analysts expected revenues of $113.07 million for the quarter.

For the first-quarter, the company expects non-GAAP loss per share to be in the range of $0.03 - $0.10, and net revenue of $80.0 million - $90.0 million. Analysts expect the company to report earnings of $0.03 per share and revenues of $99.47 million for the first-quarter.

For the fiscal year 2020, the company projects non-GAAP results to be in the range of break even per share - earnings of $0.26 per share and net revenue of $390.0 million - $430.0 million. Wall Street currently is looking for fiscal year 2020 earnings of $0.28 per share on annual revenues of $438.8 million.