Harmonic Sales Up Slightly10/21/2004 10:44 AM Eastern
Harmonic Inc. reported net sales of approximately $50.6 million for the third quarter ended Oct. 1, up from $47.3 million in the year-ago period.
The vendor of digital-video, broadband-optical-networking and Internet-protocol-delivery systems said third-quarter revenue was lower than expected due to the timing of two significant customer orders, which it expects to recognize as revenue in the fourth quarter.
Harmonic’s generally-accepted-accounting-principles net loss $4.2 million, or $0.06 per share, versus $7.5 million ($0.12) in the previous-year quarter.
"While the timing of customer shipments remains difficult to predict, we expect strong sales and earnings growth in the fourth quarter," Harmonic chairman, president and CEO Anthony J. Ley said in a prepared statement.
"We are very encouraged with the strength of our international business and the diversification of our customer base across cable, satellite and telco markets,” he added.