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Dec 31, 2019
Harmonic Q4 2019 Earnings Report
Announced strong fourth quarter and fiscal year 2019 results, driven by cable access revenue growth and record video gross margins.
Key Takeaways
Harmonic Inc. reported a strong fourth quarter with a 7.5% year-over-year increase in revenue, driven by the CableOS solution gaining market share and a record video segment gross margin of 60%.
Revenue was $122.2 million, up 7.5% year over year.
SaaS and service revenue was $36.3 million, up 18.9% year over year.
Cable Access segment revenue was $43.0 million, up 78.3% year over year.
GAAP net income per share was 6 cents and non-GAAP net income per share was 12 cents.
Revenue by Geographic Location
Forward Guidance
Harmonic provided financial guidance for Q1 2020 and full year 2020.
Positive Outlook
- Q1 2020 Net Revenue: $80.0 to $90.0 million
- Q1 2020 Video Revenue: $60.0 to $65.0 million
- Q1 2020 Cable Access Revenue: $20.0 to $25.0 million
- 2020 Net Revenue: $390.0 to $430.0 million
- 2020 Video Revenue: $260.0 to $280.0 million
Challenges Ahead
- Q1 2020 GAAP Gross Margin %: 47.5% to 49.0%
- Q1 2020 GAAP Operating Expenses: $55.5 to $57.5 million
- Q1 2020 GAAP Operating Income (Loss): $(19.5) to $(11.0) million
- 2020 GAAP Gross Margin %: 49.0% to 54.0%
- 2020 GAAP Operating Expenses: $214.0 to $226.5 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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