logo
Share SHARE
FONT-SIZE Plus   Neg

Harmonic Lowers Q1 Net Revenue Guidance

Harmonic Inc. (HLIT) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT