Harmonic Inc Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Harmonic Inc (HLIT) reported a profit for third quarter that Decreased from last year but beat the Street estimates.

The company's bottom line came in at $2.69 million, or $0.02 per share. This compares with $21.71 million, or $0.19 per share, last year.

Excluding items, Harmonic Inc reported adjusted earnings of $14.14 million or $0.12 per share for the period.

Analysts on average had expected the company to earn $0.05 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 27.3% to $142.38 million from $195.75 million last year.

Harmonic Inc earnings at a glance (GAAP) :

-Earnings: $2.69 Mln. vs. $21.71 Mln. last year. -EPS: $0.02 vs. $0.19 last year. -Revenue: $142.38 Mln vs. $195.75 Mln last year.

-Guidance: Next quarter EPS guidance: $0.06 - $0.12 Next quarter revenue guidance: $133 - $147 Mln