Harmonic Trims Q3 Expectations, Results Reflect Timing of Major Orders

Harmonic expects to report Q3 net sales of approximately $50 million to $51 million. The company said the lower than anticipated revenues primarily reflected the timing of two significant customer orders received by its Convergent Systems division. The company believes that it is still on track to meet previously stated revenue guidance of $125-$130 million for the second half of 2004.



"Our third quarter bookings were very strong, a trend we expect to see continue in the fourth quarter," said Anthony J. Ley, Chairman, President and Chief Executive Officer. "Our business continues to be driven by the intensifying competition between cable, satellite and telco operators."http://www.harmonicinc.com