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

To: SteveG who wrote (1877)	1/21/1998 9:18:00 PM
From: SteveG	Read Replies (1) \| Respond to of 4134

<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.