Harmonic Posts Wider Adj. Loss In Q1 - Quick Facts

(RTTNews) - Harmonic Inc. (HLIT) reported a first quarter non-GAAP net loss per share $0.10, compared to a non-GAAP net loss per share of $0.05, a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.05, for the quarter. Analysts' estimates typically exclude special items.

First quarter revenue was $78.4 million, down 2.1% year over year. Analysts expected revenue of $85.02 million for the quarter. SaaS and service revenue was $30.7 million, up 10.5%.

Patrick Harshman, CEO, said: "Cable Access segment revenue grew over 85% and recurring SaaS and Service revenue grew over 10% in the past year. The future impacts of the pandemic are difficult to forecast but we are well positioned for the long term, as the broadband cable access and video streaming services we enable remain vital and our core technology position remains strong."

For the second quarter, on a non GAAP basis, the company projects loss per share of $0.18 to $0.09, and net revenue of $62.0 million to $77.0 million.