Harmonic Sees Rebound in Q3

Harmonic reported net revenue for the third quarter of 2011 of $138.9 million, up from $104.8 million in the third quarter of 2010. International sales represented 51% of total revenue for the third quarter of 2011. Total bookings in the third quarter of 2011 were approximately $141.4 million, up from approximately $107.5 million for the third quarter of 2010. The company reported GAAP net income for the third quarter of 2011 of $3.5 million, or $0.03 per diluted share, compared to a net loss of $0.4 million, or ($0.00) per diluted share, for the third quarter of 2010. For the first nine months of 2011, GAAP net income was $4.5 million, or $0.04 per diluted share, compared to $9.4 million, or $0.10 per diluted share, for the same period of 2010.


During the third quarter, we were pleased to see our domestic business rebound, up 24% from the previous quarter,�? said Patrick Harshman, President and Chief Executive Officer. “For the first nine months of 2011, our video processing revenue grew 23% from the same period last year. During the third quarter, we built on this momentum by introducing powerful new video products that will enable our global customers to move forward on a range of new Internet, multiscreen and traditional video services. We remain focused on further capitalizing on our broad technological and market leadership and profitably growing our business.�?http://www.harmonicinc.com