Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Harmonic Lowers Q1 Net Revenue Guidance

4/9/2012 6:28 PM ET

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
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
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.