Harmonic, S-A Post Strong Results4/21/2005 10:00 AM Eastern
A 32% jump in first-quarter revenue, aided by strong results in its digital-headend division, pushed Harmonic Inc. into the black in earnings Thursday.
The company generated net income of $1.7 million on revenue of $72.9 million in the quarter, compared with a net loss of $2.6 million on revenue of $55.1 million in the year-earlier period. The headend division posted revenue of $56.6 million in the quarter, up from $35.8 million in the previous-year period.
Scientific-Atlanta Inc. reported third-quarter earnings of $61.7 million on sales of $489.5 million, versus earnings of $53.9 million on revenue of $437 million in the year-ago period.
S-A attributed the increase to shipments of higher-end digital set-tops and more cable modems. It shipped 1.099 million “Explorer” set-tops and 622,000 modems in the quarter.
The vendor also shipped 496,000 digital-video recorders, with slightly more than one-half being HD-capable. Combined HD and HD DVR set-tops shipped were 436,000.
S-A has received a $195 million order from SBC Communications Inc. for its “Project LightSpeed” rollout, and the company said it booked $22 million of that deal in the quarter. S-A will supply Internet-protocol-based video equipment, including advanced encoders.