Harmonic: 4Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Harmonic Inc. (HLIT) on Monday reported fourth-quarter net income of $3.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Jose, California-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, came to 11 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The video services provider posted revenue of $113.7 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $111.7 million.

For the year, the company reported that its loss narrowed to $21 million, or 25 cents per share. Revenue was reported as $403.6 million.

For the current quarter ending in April, Harmonic expects its results to range from a loss of 11 cents per share to a loss of 1 cent per share.

The company expects full-year results to range from a loss of 16 cents per share to earnings of 33 cents per share.

Harmonic shares have risen 14 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.40, a climb of 57 percent in the last 12 months.

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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