Harmonic Posts Profit In Q1

(RTTNews) - Harmonic Inc. (HLIT) Monday reported first-quarter net income of $5.9 million or $0.05 per share, compared to net loss of $8.1 million or $0.07 per share last year.

Adjusted profit for the quarter was $13.4 million or $0.11 per share, compared to $0.4 million or $0.00 per share last year.

Revenues for the quarter increased to $133.1 million from $122.1 million in the prior year period. Broadband segment revenue gained $84.9 million, compared to $78.9 million in the prior year period. Video segment revenue was $48.3 million, compared to $43.2 million in the prior year period.

Looking forward, the company expects second-quarter revenues of $120 million to $135 million, and loss per share of $0.04 to $0.01.