Harmonic (HLIT) Tops Q3 EPS by 7c
Harmonic (NASDAQ: HLIT) reported Q3 EPS of ($0.01), $0.07 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $92 million versus the consensus estimate of $85.63 million.
Outlook and Financial Guidance
GAAP Financial Guidance | Q4 2017 | 2017 | |||||||||||||||
Low | High | Low | High | ||||||||||||||
(in millions, except percentages and per share data) | |||||||||||||||||
Net Revenue | $ | 90.0 | $ | 100.0 | $ | 347.9 | $ | 357.9 | |||||||||
Video | $ | 80.0 | $ | 86.0 | $ | 311.9 | $ | 317.9 | |||||||||
Cable Edge | $ | 10.0 | $ | 14.0 | $ | 36.0 | $ | 40.0 | |||||||||
Gross Margin % | 50.0 | % | 51.0 | % | 48.0 | % | 49.0 | % | |||||||||
Video | 52.0 | % | 54.0 | % | 52.0 | % | 53.0 | % | |||||||||
Cable Edge | 26.0 | % | 28.0 | % | 12.0 | % | 14.0 | % | |||||||||
Operating Expenses | $ | 54.4 | $ | 56.4 | $ | 238.0 | $ | 240.0 | |||||||||
Operating Loss | $ | (11.5) | $ | (3.0) | $ | (73.2) | $ | (64.7) | |||||||||
Tax benefit (expense) | $ | (0.8) | $ | (0.8) | $ | 0.8 | $ | 0.8 | |||||||||
EPS | $ | (0.19) | $ | (0.08) | $ | (1.06) | $ | (0.96) | |||||||||
Shares | 82.0 | 82.0 | 81.0 | 81.0 | |||||||||||||
Cash and short-term investments | $ | 40.0 | $ | 50.0 | $ | 40.0 | $ | 50.0 | |||||||||
Non-GAAP Financial Guidance | Q4 2017 | 2017 | |||||||||||||||
Low | High | Low | High | ||||||||||||||
(in millions, except percentages and per share data) | |||||||||||||||||
Net Revenue | $ | 90.0 | $ | 100.0 | $ | 348.0 | $ | 358.0 | |||||||||
Video | $ | 80.0 | $ | 86.0 | $ | 312.0 | $ | 318.0 | |||||||||
Cable Edge | $ | 10.0 | $ | 14.0 | $ | 36.0 | $ | 40.0 | |||||||||
Gross Margin % | 52.0 | % | 53.5 | % | 51.5 | % | 52.0 | % | |||||||||
Video | 55.0 | % | 57.0 | % | 55.0 | % | 55.5 | % | |||||||||
Cable Edge | 27.0 | % | 29.0 | % | 22.0 | % | 23.0 | % | |||||||||
Operating Expenses | $ | 48.0 | $ | 50.0 | $ | 206.0 | $ | 208.0 | |||||||||
Operating Income (Loss) | $ | (3.0) | $ | 5.5 | $ | (28.5) | $ | (20.0) | |||||||||
Tax rate | 15 | % | 15 | % | 15 | % | 15 | % | |||||||||
EPS | $ | (0.05) | $ | 0.04 | $ | (0.38) | $ | (0.29) | |||||||||
Shares | 82.0 | 82.5 | 81.0 | 81.0 | |||||||||||||
Cash and short-term investments | $ | 40.0 | $ | 50.0 | $ | 40.0 | $ | 50.0 | |||||||||
For earnings history and earnings-related data on Harmonic (HLIT) click here.