U.S. Markets open in 6 hrs 45 mins

Harmonic reports 4Q loss

SAN JOSE, Calif. (AP) _ Harmonic Inc. (HLIT) on Tuesday reported a loss of $10.4 million in its fourth quarter.

On a per-share basis, the San Jose, California-based company said it had a loss of 13 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.

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

The video services provider posted revenue of $113.1 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $108.6 million.

For the year, the company reported that its loss widened to $72.3 million, or 93 cents per share. Revenue was reported as $405.9 million.

For the current quarter ending in April, Harmonic expects its results to range from a loss of 24 cents per share to a loss of 19 cents per share.

Harmonic shares have risen 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.40, a rise of 61 percent 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


Keywords: Harmonic, Earnings Report