Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Harmonic Lowers Q1 Net Revenue Guidance

RELATED NEWS
Trade HLIT now with 

Harmonic Inc. (HLIT: Quote) announced preliminary results for the first-quarter ended March 30, 2012. The company lowered its first quarter of 2012 net revenue guidance to a range of $125 million - $128 million, from its previous guidance of $132 million - $142 million.

Non-GAAP gross margin for the first-quarter is now expected to be in the range of 46% to 48%, compared to the Company's previous guidance of 50% to 52%. Non-GAAP operating expenses are expected to be in the range of $56 million to $57 million, in line with the Company's previous guidance. Non-GAAP income per share is expected to be in the range of $0.02 to $0.03 per share.

Preliminary total bookings for the first quarter of 2012 were approximately $142.5 million, up 8% from $131.6 million in the first quarter of 2011.

Analysts polled by Thomson Reuters expect the company to report earnings of $0.09 per share on revenues of $136.62 million for the first-quarter. Analysts' estimates typically exclude special items.

"Although total bookings met our expectations, our first quarter revenue was adversely impacted by the slower than expected order rate in the early part of the quarter and a decline in demand from our European customers," said Patrick Harshman, president and chief executive officer.

Looking ahead, our bookings growth and expanding footprint lead us to expect sequential growth in the second quarter and, more generally, point to the fundamental strength of our business," said Patrick Harshman.

Register
To receive FREE breaking news email alerts for Harmonic Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.