Harmonic Q2 Loss Narrows

Harmonic Inc. (HLIT) on Monday reported second-quarter net loss of $2.0 million or $0.02 per share, narrower than last year's loss of $15.4 million or $0.16 per share last year.

On an adjusted basis, net income were $4.8 million or $0.05 per share, compare to last year's adjusted loss of $5.9 million or $0.06 per share last year.

Revenues grew 53% to $113.4 million from $74.0 million last year.

Analysts polled by Thomson Reuters expected earnings to be breakeven per share on revenues of $107.52 million. Analysts' estimates typically exclude one-time items.

Looking forward to the third quarter, the company expects revenues of $112.0 million to $122.0 million and adjusted earnings of $0.01 to $0.05 per share. Analysts currently estimates earnings of $0.05 per share on revenues of $117.46 million.

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