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Technology Stocks : Harmonic Lightwaves (HLIT) -- Ignore unavailable to you. Want to Upgrade?

To: PaisaBanana who wrote (2852)	7/21/1999 4:30:00 PM
From: Hiram Walker	Read Replies (2) \| Respond to of 4134

PiasaBanana, Wowee!! The motherload! HLIT blows away anyone's earnings and revenue estimates,even mine!! Woweee!Yippee!! I expected at most 35 million in revenues,since they said they were expanding about 12%! Wednesday July 21, 4:00 pm Eastern Time Company Press Release Harmonic Announces Record Second Quarter Results SUNNYVALE, Calif.--(BUSINESS WIRE)--July 21, 1999--Harmonic Inc. (Nasdaq:HLIT - news) today announced its results for the quarter ended July 2, 1999. For the second quarter of 1999, Harmonic reported net sales of $37.9 million, up 109% from $18.2 million for the second quarter of 1998. Net income for the second quarter of 1999 was $3.9 million or $0.25 per diluted share on 15,698,000 shares outstanding, compared to a net loss of $2.9 million, or ($0.25) per diluted share on 11,591,000 shares outstanding for the same period of the previous year. For the first six months of 1999, Harmonic reported net sales of $68.2 million, up from $34.4 million for the same period of 1998. Net income for the first six months was $5.2 million, or $0.36 per diluted share, compared to a net loss of $21.3 million, or ($1.85) per diluted share for the same period of the previous year. The loss for the first six months of 1998 includes a charge of $14.0 million or $1.22 per diluted share resulting from the acquisition of Harmonic Data Systems Ltd., previously named New Media Communication Ltd. During the second quarter, domestic sales increased 147% and international sales increased 56% from the second quarter of 1998. The Company continued to ship more of its METROLink(TM) dense wave division multiplexing systems to AT&T Broadband & Internet Services (formerly TCI). Harmonic also introduced a new DWDM return transmitter module specifically designed for use with its PWRBlazer(TM) Scaleable Node, and recently delivered the first multiplexing nodes for a field trial of the LightWire(TM) architecture developed by AT&T. Harmonic experienced increasing demand for its fiber optic products across its worldwide base of cable customers. While there was growing interest from cable, satellite and telephony operators in Harmonic's TRANsend and CyberStream digital products, these products remained a modest portion of the Company's total sales in the second quarter. ''We are very pleased with our record sales and substantially improved profitability in the second quarter,'' said Anthony J. Ley, Chairman, President and Chief Executive Officer. ''We continue to be encouraged by the stronger financial resources of domestic cable operators and their commitment to systematically and cost-effectively upgrade their networks to offer video-on-demand, high-speed Internet access, telephony and other advanced services to more subscribers. ''We continue to enhance our fiber optic product lines and develop new architectures that capitalize on the growth in domestic cable industry spending. While the markets for broadband satellite and wireless are still relatively small, we seek to position Harmonic for these emerging markets in future years.'' We are kicking some freaken cable butt! Tim