Harmonic Inc - HLIT STOCK NEWS

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 Investors can access a live video webcast on Harmonic's website, with an archived version available for 90 days post-event.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.

Harmonic Inc. (NASDAQ: HLIT) reported Q3 2021 results with revenues of $126.3 million, representing a 33% year-over-year increase. The cable access segment saw a 43% revenue increase to $57.6 million, while the video segment rose by 26% to $68.7 million. Net income reached $1.5 million with earnings per share of $0.01, up from a loss of $5.4 million in the previous year. The company's cash position improved to $128.4 million. Harmonic anticipates continued growth with strong market momentum and a robust backlog.

Harmonic (NASDAQ: HLIT) has partnered with Claro Colombia to launch the Claro Box TV streaming service, marking a significant advancement in the Colombian telecommunications market. This service utilizes Harmonic's VOS Cloud-Native Software, enhancing business agility and subscriber experience. The Claro Box TV offers traditional channels, cloud DVR, and access to over 300 apps. The deployment includes Harmonic's Electra X live video processor and EyeQ AI-based encoding technology, ensuring better streaming performance at reduced costs. This move positions Claro Colombia as a leader in Latin America's streaming service industry.