SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Harmonic Inc. (HLIT) on Monday reported fourth-quarter earnings of $83.8 million.
The San Jose, California-based company said it had net income of 72 cents per share. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The video services provider posted revenue of $167.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $160.3 million.
For the year, the company reported profit of $84 million, or 72 cents per share. Revenue was reported as $607.9 million.
For the current quarter ending in March, Harmonic expects its results to range from a loss of 6 cents per share to earnings of 2 cents per share.
The company said it expects revenue in the range of $110 million to $130 million for the fiscal first quarter.
Harmonic expects full-year earnings in the range of 49 cents to 72 cents per share, with revenue ranging from $655 million to $710 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLIT at https://www.zacks.com/ap/HLIT