Harmonic Inc - HLIT STOCK NEWS

Harmonic (NASDAQ: HLIT) announced that GCI, Alaska's largest telecommunications company, is implementing Harmonic's Cloud-Native CableOS Platform to enhance its broadband services. This platform facilitates virtualized network upgrades, enabling GCI to provide ultra-fast and reliable internet. The deployment includes a distributed access architecture and analytics powered by AI for real-time monitoring. Harmonic's solutions support a variety of network demands and are designed for future capabilities, including 10G service. The CableOS Platform currently supports 4.8 million cable modems worldwide.

Harmonic (NASDAQ: HLIT) has successfully achieved interoperability for its MAC Anywhere Flexible MAC Architecture (FMA) at the recent CableLabs event. This accomplishment enables its CableOS Cloud-Native Core Platform to work seamlessly with third-party MAC Manager software, enhancing operators' ability to deploy multi-gigabit broadband services. Harmonic's software-based solution is designed to simplify network operations, promote flexibility, and support next-gen networks. The company's technology powers 4.8 million cable modems globally, serving major operators in North America, Europe, and beyond.

Harmonic Inc. (NASDAQ: HLIT) announced a stock repurchase program authorized by its board of directors, permitting the repurchase of up to $100 million in outstanding shares through February 2025. The program aims to enhance shareholder value and will be funded through cash on hand and operations revenue. CEO Patrick Harshman expressed confidence in the company's financial health and growth potential. Repurchases will depend on various factors, including stock price and market conditions, and the program may be adjusted or suspended at the company's discretion.

Harmonic Inc. (NASDAQ: HLIT) reported a strong Q4 and fiscal year 2021, with revenue of $155.8 million, reflecting an 18% increase year-over-year. The Cable Access segment surged 53% to $69.7 million, while the Video segment remained stable at $86.1 million. Gross margins dipped slightly to 50.0% for GAAP and 50.5% for non-GAAP. The company ended the year with a record backlog of $441 million and cash reserves of $133.4 million. Forward-looking guidance for Q1 2022 estimates revenues between $134 million and $149 million.

Harmonic (NASDAQ: HLIT) announced it will release its fourth quarter and full year 2021 financial results after the market closes on January 31, 2022. A live webcast to discuss these results will be held at 2:00 p.m. PT on the same day. Investors can access the webcast on Harmonic's Investor Relations website, with replay options available afterward. Harmonic specializes in virtualized cable access and video delivery solutions, helping media companies provide high-quality streaming services globally.

Harmonic (NASDAQ: HLIT) announced its participation in the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 1:15 p.m. PT. The company's Chief Financial Officer, Sanjay Kalra, and Senior Vice President of Business Development, Jeremy Rosenberg, will engage in a fireside chat. Investors can access a live video webcast on Harmonic's website, with an archived version available for 90 days post-event. Harmonic is recognized for its innovations in video delivery and virtualized cable access, enhancing streaming and internet services for media companies globally.

Harmonic (NASDAQ: HLIT) has partnered with Rogers Communications to enhance its multi-gigabit broadband services using Harmonic's CableOS® cloud-native platform. This collaboration supports the deployment of a virtualized access platform compatible with DOCSIS 4.0 technology, improving connectivity and reducing operational costs for Rogers. The CableOS Platform currently powers over 3 million cable modems for major operators worldwide, showcasing Harmonic's strong market presence. This partnership is expected to deliver faster internet speeds and higher reliability for Rogers' customers.

Harmonic (NASDAQ: HLIT) has announced the successful completion of technology upgrades for SES's Phase 1 C-band spectrum transition within just nine months. Utilizing Harmonic's XOS Edge software, the project exceeded FCC deadlines, demonstrating collaboration among involved companies. The integration of NAGRA's encryption with XOS Edge enhances video service delivery. This upgrade not only supports Comcast Technology Services but also positions Harmonic for new opportunities in edge distribution strategies, contributing to the industry's path toward 5G.

Harmonic (NASDAQ: HLIT) has announced participation at two key investor conferences on December 7, 2021. CEO Patrick J. Harshman will engage in a fireside chat at the Raymond James Technology Investors Conference at 1:00 PM PT, while Sanjay Kalra and Jeremy Rosenberg will participate at the Barclays Global Technology, Media and Telecommunications Conference at 11:25 AM PT. Live audio webcasts will be available on Harmonic's website, with archived webcasts accessible for 30 days.