Steady performance from Harmonic
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ThE MaStEr
2010-10-29
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Steady performance from Harmonic
By Julian Clover
Published: October 29, 2010 11.24 Europe/London
Harmonic slipped into a third quarter loss despite increased revenues, from the core business, and recent acquisition Omneon.
The company recorded third quarter net revenues of $104.8 million (€75.7 million), which included $5.6 million in Omneon revenue from the last two weeks of September, and a loss of $0.4 million.
“We’re pleased with the continued growth of our business and with the progress we’ve made to integrate Omneon into our operations,” said Patrick Harshman, President and Chief Executive Officer. “Our combined business continues to be driven by growing worldwide investment in new high definition services, expansion of our global customer base, and growing on-demand and new media services. Our sustained investment in innovative video technologies is paying off, as new and existing customers increasingly choose Harmonic to extend their video infrastructure.
Excluding Omneon’s contribution, Harmonic’s net revenue for the first nine months of 2010 was $279.6 million, up 20% from $232.9 million in the same period of 2009.
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