SAN JOSE, Calif. (AP) _ Harmonic Inc. (HLIT) on Monday reported a loss of $6.1 million in its first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 6 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The video services provider posted revenue of $111.6 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $103.1 million.
For the current quarter ending in July, Harmonic expects its results to range from a loss of 3 cents per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $102 million to $112 million for the fiscal second quarter.
Harmonic expects full-year earnings in the range of 6 cents to 24 cents per share, with revenue ranging from $435 million to $480 million.
Harmonic shares have climbed almost 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.11, an increase of 42% in the last 12 months.
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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
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