Harmonic Posts Q3 2009 Results

Posted by Joe Zaller
Oct 28 2009

Earlier today Harmonic announced its preliminary and unaudited results for the company’s fiscal Q3 (quarter ended October 2, 2009). 

You can read the press release here, and here is an article from Reuters and another from the AP about HLIT’s numbers.

You can hear a replay of the conference call here, or by dialing +1.706.645.9291 and enter ID# 32354964

Sales for the quarter were $83.9m, an increase of 3% versus the previous quarter and a decrease of 8% versus the same quarter last year.

For the first nine months of their fiscal year, the company’s sales were $232.9m, a 13% decrease versus sales of $268.1m during the first nine months of last year.

International revenue was 52% of sales, which represents a q/q and y/y increase as was mentioned in both the press release and earnings conference call.  The company says it did well in Europe as well as in emerging markets such as China and India.

  Q309 Q308 Q209
Revenue $83.9m $91.5m $81.3m
Current qtr % change vs. previous qtrs  — -8% +3%
Int. Revenue $43.6m $35.69m $34.96m
Int. Sales % 52% 39% 43%

 

Here are a few highlights from the earnings conference call:

 

* Revenue from software and services was up vs. 2008

 * Lower capital spending by customers around the world

 * Increase in international customers, especially in Europe

 * Successes in China and India

 * The company’s top 10 customers accounted for less than 50% of revenue during the quarter

 * The largest customer was Comcast who represented 15% of revenue

 *DISH represented 10% of revenue

 * Segment Revenue Breakdown:

            Cable 56%  

            Satellite 21% 

            Telco other 23%

 * Product revenue Breakdown

            Edge and access 39%

            Processing %39

            Services and other 22%

 * Lower gross margins due to a variety of factors including product mix and supply chain

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