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Harmonic: 1Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Harmonic Inc. (HLIT) on Monday reported a loss of $11.3 million in its first quarter.

The San Jose, California-based company said it had a loss of 13 cents per share. Losses, adjusted for stock option expense and amortization costs, were 5 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The video services provider posted revenue of $80.1 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $85.6 million.

For the current quarter ending in July, Harmonic expects its results to range from a loss of 11 cents per share to a loss of 5 cents per share.

The company said it expects revenue in the range of $80 million to $90 million for the fiscal second quarter.

Harmonic expects full-year results to range from a loss of 19 cents per share to earnings of 27 cents per share, with revenue ranging from $385 million to $430 million.

Harmonic shares have increased 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.64, a climb of 59% in the last 12 months.


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