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To: Apollo who wrote (26211)	6/12/2000 2:47:00 PM
From: ALTERN8	Respond to of 54805

Monday June 12, 2:40 pm Eastern Time Harmonic off 24 pct, company comfortable with views NEW YORK, June 12 (Reuters) - Shares in Harmonic Inc. (NasdaqNM:HLIT - news) fell 24 percent on Monday after the telecommunications equipment maker reiterated that sales to No. 1 customer AT&T Corp. (NYSE:T - news) were still slipping. Spokesman Michael Newman said President and Chief Executive Anthony Lei had told analysts at an investment conference that Harmonic was still comfortable with analysts' forecasts for the year. Harmonic was down 13-11/16 at 43-11/16 in mid-afternoon, climbing off a low of 37-1/2. The stock was among top losers in percentage terms on the Nasdaq market. The Sunnyvale, Calif.-based company also was among Nasdaq volume leaders, with trade at more than six times average daily levels. ``There is no news,'' Newman told Reuters. He said Lei told an investors conference in New York Monday that sales to AT&T, the long-distance phone company, continued to decline. Sales to AT&T dropped to 28 percent in the first quarter of this year from more than 50 percent in the third quarter of 1999. ``We have seen that trend continue,'' Newman said. Business has continued to grow over the last three quarters and AT&T was making up a smaller percentage of sales, he said. ``They (AT&T) remain our largest customer and we expect to do ... a good deal of business with them,'' he added. Lei told the conference, sponsored by CIBC WorldMarkets, that the company remained comfortable with what analysts were predicting for it this year. Research firm First Call/Thomson Financial, which tracks analysts' earnings estimates, put the consensus forecast for second-quarter earnings at 29 cents a share. Analysts expect earnings of $1.18 a share this year.