Harmonic Inc (HLIT) Releases Earnings Results, Misses Expectations By $-0.08 EPS

Harmonic Inc (HLIT) reported quarterly earnings results on Tuesday, May-10-2016. The company reported $-0.11 earnings per share for the quarter, missing the analyst consensus estimate by $-0.08. Analysts had a consensus of $-0.03. The company posted revenue of $81.80 million in the period, compared to analysts expectations of $83.98 million. The company’s revenue was down -21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Harmonic Inc closed down -0.03 points or -0.90% at $3.3 with 2,72,238 shares getting traded on Friday. Post opening the session at $3.33, the shares hit an intraday low of $3.235 and an intraday high of $3.465 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 9, 2016, Patrick Gallagher (director) purchased 5,000 shares at $3.24 per share price. According to the SEC, on Feb 18, 2016, Floyd E Kvamme (director) purchased 25,000 shares at $3.25 per share price. On Dec 16, 2015, Patrick Harshman (CEO) purchased 10,000 shares at $4.29 per share price, according to the Form-4 filing with the securities and exchange commission.

Harmonic Inc. (Harmonic) designs manufactures and sells video infrastructure products and system solutions. The Company operates in two business segments: Video and Cable Edge. Its Video business sells video processing and production and playout solutions and services around the world to cable operators and satellite and telecommunications (telco) Pay-TV service providers and to broadcast and media companies. The products offered in the Video business segment include video processing solutions and video production platforms and playout solutions. Its Cable Edge business sells cable edge solutions and related services to cable operators globally. The products offered in the Cabled Edge segment include edge quadrature amplitude modulation (QAM) products centralized converged cable access platform (CCAP) Solution and Distributed CCAP Solution.

Harmonic Inc

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