Harmonic shares slip on weak earnings outlook
Shares of Harmonic Inc. fell in Tuesday's extended session after the video services company issued a weak earnings outlook. Harmonic reported its fourth-quarter loss widened to $10.4 million, or 13 cents a share, from a loss of $7.2 million, or 8 cents a share, a year earlier. On an adjusted basis, the company would have earned 8 cents a share. Revenue rose to $113.1 million from $86.6 million. Analysts surveyed by FactSet had forecast earnings of 6 cents a share on revenue of $109 million. Harmonic projected a first-quarter loss of 4 cents to 8 cents a share. Analysts were expecting the company to break even in the current quarter. Shares fell 0.9% after hours.
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