Harmonic Inc (HLIT) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $38.1 million, or $0.32 per share. This compares with $83.8 million, or $0.72 per share, last year.
Excluding items, Harmonic Inc reported adjusted earnings of $52.4 million or $0.45 per share for the period.
Analysts on average had expected the company to earn $0.37 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 33.0% to $222.2 million from $167.1 million last year.
Harmonic Inc earnings at a glance (GAAP) :
-Earnings: $38.1 Mln. vs. $83.8 Mln. last year.
-EPS: $0.32 vs. $0.72 last year.
-Revenue: $222.2 Mln vs. $167.1 Mln last year.
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