piranka/E+ via Getty Images
Harmonic (NASDAQ:HLIT) fell 5% in post-market trading after announcing a disappointing forecast.
First-quarter revenue of $110 million to $130 million missed analysts' average estimate of $154 million. The company expects to report an adjusted loss per share of 6C to 2C EPS, versus the estimate of 9C.
For the fourth quarter, mon-GAAP EPS of $0.13 beat the average analyst estimate by $0.03 on sales of $167.1 million, which fell short of $6.78 million. The sales total was a record for the company and represented quarter after quarter. 31% profit.
It had closed with a 3.47% gain.
Harmonic's broadband segment revenue was $115.2 million, compared to $96 million in the prior-year quarter. Revenue from the video segment was $51.9 million, compared to $68.3 million a year earlier.
“Our strong year-end order book reflects continued demand from our large broadband customers and growing Video SaaS commitments, positioning us well for this year and beyond,” said Harmonic CEO Patrick Harshman, in a statement.
The company's cash fell slightly to $84.3 million compared to $89.6 million in the same period last year.
