<A> Pt 3 (wonder if HLIT will see single digits from the earning's disappointment?):
Harmonic Lightwaves Earnings -3: Sees Oper Loss In 1Q
Harmonic Lightwaves Inc. - Sunnyvale, Calif.
Year Dec. 31:
1997 1996
Sales $74,442,000 $60,894,000
Net income 4,929,000 5,918,000
Avg shrs (basic) 10,345,000 10,106,000
Avg shrs (diluted) 11,523,000 11,474,000
Shr earns (basic)
Net income .48 .59
Shr earns (diluted)
Net income .43 .52
Harmonic Lightwaves Inc. (HLIT) said the fourth quarter and year were
hurt by lower than expected sales to both domestic and international
cable customers as a result of reduced levels of cable industry
capital spending in the second half of 1997.
In a press release Wednesday, Harmonic Lightwaves said it expects that
seasonally low sales to domestic cable customers, combined with the
inclusion of New Media Communication Ltd.'s operations, will result in
an operating loss in the first quarter of 1998. Harmonic Lightwaves
will additionally record a one-time charge for in-process technology
in the first quarter due to the acquisition of New Media.
During 1998, Harmonic Lightwaves expects its TRANsend and New Media
products to broaden its customer base and make a "growing contribution
to sales."
Harmonic Lightwaves manufactures communication systems for delivering
lightwave and digitally based video, audio and data via hybrid
fiber/coax, satellite and wireless networks. |
