Harmonic (HLIT) Tops Q1 EPS by 1c

Harmonic (NASDAQ: HLIT) reported Q1 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $104 million versus the consensus estimate of $103.75 million.

Harmonic sees Q2 2015 revenue of $94-107 million, versus the consensus of $108.35 million.

Highlights of the quarter included record Cable Edge business revenue, 54% gross margin and $0.05 non-GAAP earnings per share, up 67% from a year ago," said Patrick Harshman, President and CEO of Harmonic. "Video business revenue was soft, as video service provider customers continued to pause spending in advance of major technology and business model transitions. The good news is that Harmonic is out in front on these transitions, and secured several tier one service provider wins with our latest virtualized video technology. Looking ahead, we see good opportunities to capture more Video market share during this period of industry change while also continuing to drive growth in our Cable Edge business, and we remain focused on both earnings growth and enhanced shareholder value."

For earnings history and earnings-related data on Harmonic (HLIT) click here.

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