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Technology Stocks : C-Cor Electronics-CCBL
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To: Ted The Technician who wrote (171)6/28/2000 2:39:00 PM
From: Jim Oravetz  Read Replies (1) of 235
 
Harmonic Inc.'s (HLIT) disappointing second-quarter results, which sent the company's stock tumbling more than 40% Tuesday, probably represent only an isolated incident among cable equipment makers, according to analysts.

Harmonic, a digital and fiber-optic systems manufacturer, preannounced preliminary second-quarter results late Monday, warning that its earnings and revenue will fall substantially below expectations.

But analysts said the reasons for the shortfall - chiefly lower-than-expected sales to cable giant AT&T Corp. (T) and poor results at the company's newly acquired DiviCom unit - are unique to Harmonic and don't reflect the outlook for other cable equipment companies.

"The issues at Harmonic appear to be specific to Harmonic," said Lawrence Harris, an analyst with Josepthal & Co. "We've been speaking with several of the other cable equipment companies and they have not seen a slowdown in shipments and many are reporting higher revenues."

In fact, analysts expect cable equipment makers such as Scientific-Atlanta Inc. (SFA), Antec Corp. (ANTC), CommScope Inc. (CTV) and C-Cor.net Corp. (CCBL) to easily meet or exceed expectations for the quarter as the race to revamp cable systems continues to fuel demand for their products. snip\/

WSJI 6/27
Jim
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