Harmonic Q4 Profit Rises

(RTTNews) - Harmonic Inc. (HLIT) on Monday reported fourth-quarter net income of $19.9 million or $0.18 per share, compared to last year's profit of $13.5 million or $0.13 per share last year.

On an adjusted basis, net income was $17.6 million or $0.16 per share, compared to last year's adjusted profit of $20.0 million or $0.20 per share last year.

Revenues grew to $155.8 million from $131.5 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.13 per share on revenues of $149.02 million. Analysts' estimates typically exclude one-time items.

Looking forward to the first quarter, the company expects revenues of $134.0 million to $149.0 million and loss of $0.10 to $0.04 per share. Analysts currently estimates earnings of $0.05 per share on revenues of $124.68 million.

For the full year 2022, Harmonic expects revenues of $570.0 million to $596.0 million and a loss of $0.34 to $0.17 per share. Analysts currently estimates earnings of $0.49 per share on revenues of $583.28 million.