Harmonic Inc - HLIT STOCK NEWS

Harmonic (NASDAQ: HLIT) has been chosen by Charter Communications as a strategic technology partner to implement virtual CMTS technology for advanced broadband services. This deployment will utilize Harmonic's CableOS® Broadband Platform for enhanced efficiency and multi-gigabit network convergence. The partnership supports Charter's goals for network evolution and expansion, creating a sustainable foundation for leading connectivity services. With over 90 broadband service providers globally, Harmonic continues to demonstrate its leadership in virtualized broadband solutions, revolutionizing how media companies and service providers deliver high-quality video and internet services.

Harmonic Inc. (NASDAQ: HLIT) announced the resignation of CFO Sanjay Kalra, effective March 3, 2023, to explore other opportunities. The company has appointed Jeremy Rosenberg, senior vice president of business development, as interim CFO while a search for a permanent replacement is underway. CEO Patrick Harshman expressed gratitude for Kalra's contributions and confidence in Rosenberg's leadership during the transition. Harmonic continues to lead in virtualized broadband and video delivery solutions, enhancing media companies' capabilities in streaming and broadcasting.

Harmonic Inc. (NASDAQ: HLIT) reported a record quarterly revenue of $164.3 million for Q4 2022, marking a 5.5% year-over-year increase. Significant growth was seen in the Broadband segment, which grew 38% to $96.0 million, and Video SaaS revenue surged 51% year-over-year. However, Video segment revenue declined 20.7% to $68.3 million. Gross margins improved, with GAAP gross margin at 52.1%. Operating income rose to $16.5 million GAAP and $23.7 million non-GAAP. Despite a cash decrease to $89.6 million, the backlog remained strong at $457.1 million.

Harmonic Inc. (NASDAQ: HLIT) announced it will release its fourth quarter and full year 2022 financial results on January 30, 2023, after market close. A live webcast to discuss the results will take place at 2:00 p.m. PT on the same day. Participants can join via telephone after registering in advance. A replay of the webcast will be available post-event. Harmonic is recognized as a leader in virtualized broadband and video delivery solutions, enabling media companies and service providers to deliver high-quality streaming and broadcasting services.

Harmonic (NASDAQ: HLIT) announced that Patrick J. Harshman, President and CEO, will participate in a virtual fireside chat at the 25th Annual Needham Growth Conference on January 12, 2023, at 8:45 a.m. PT. A live video webcast will be available on the company's investor relations website, with an archived version accessible for 90 days afterward. Harmonic specializes in virtualized broadband and video delivery solutions, empowering media companies and service providers to offer high-quality streaming services globally.

Harmonic (NASDAQ: HLIT) announced that Patrick J. Harshman, President and CEO, will participate in upcoming fireside chats at two investor conferences: the Raymond James 2022 Technology Investors Conference in New York on December 5, 2022, at 12:25 p.m. PT and the Barclays 2022 Global Technology, Media and Telecommunications Conference in San Francisco on December 8, 2022, at 12:45 p.m. PT. Live webcasts will be available on Harmonic's website, with archived versions posted for 30 days.

Harmonic (NASDAQ: HLIT) announced that its President and CEO, Patrick J. Harshman, will take part in a fireside chat at the 3rd Annual Needham Virtual Tech Week Conference on November 15, 2022, at 8:00am PT / 11:00am ET. A live video webcast will be accessible on the company's investor relations website, with an archived version available for 30 days thereafter. Harmonic is a leader in virtualized broadband and video delivery solutions, transforming the media industry with its innovative technologies.

Harmonic reported a record third-quarter revenue of $155.7 million, a 23% increase year-over-year, with a notable rise in Broadband revenue by 60% and Video SaaS revenue by 64%. Operating income reached $11.4 million GAAP, compared to $5.4 million last year. The company also noted a significant 50% increase in quarterly bookings, reflecting strong business momentum. However, Video segment revenue fell by 7%. Despite cash standing at $105.3 million, this is down by $23.2 million year-over-year.