SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Harmonic Inc. (HLIT) on Monday reported fourth-quarter profit of $38.1 million.
The San Jose, California-based company said it had profit of 32 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 45 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The video services provider posted revenue of $222.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $213.5 million.
For the year, the company reported profit of $39.2 million, or 33 cents per share. Revenue was reported as $678.7 million.
For the current quarter ending in March, Harmonic expects its per-share earnings to range from 2 cents to 8 cents.
The company said it expects revenue in the range of $120 million to $135 million for the fiscal first quarter.
Harmonic expects full-year earnings in the range of 43 cents to 68 cents per share, with revenue ranging from $585 million to $645 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
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