Harmonic Inc - HLIT STOCK NEWS

Harmonic (NASDAQ: HLIT) will participate in several upcoming virtual conferences. Patrick J. Harshman, President and CEO, is scheduled for a fireside chat on September 14, 2021, at 2:30 PM PT during the Jefferies Virtual Software Conference. Additionally, CFO Sanjay Kalra and SVP Jeremy Rosenberg will attend the Jefferies Semiconductor Summit on September 1 and the Colliers Institutional Investor Conference on September 9. A live audio webcast of the chat will be available on the company's website, with an archived version accessible for 30 days.

Harmonic (NASDAQ: HLIT) and Jackson Energy Authority have launched a managed headend management and video streaming solution called E+ Premier. This solution, powered by Harmonic's VOS360 cloud platform, enables efficient processing and delivery of video signals, streamlining operations for cable and broadband providers. E+ Premier allows operators to reduce infrastructure costs, consolidate existing services, and quickly launch new streaming offerings. The collaboration aims to enhance subscriber experience while providing additional revenue opportunities for operators.

Harmonic (NASDAQ: HLIT) announced the appointment of Dan Whalen to its board of directors as of August 5, 2021. Currently the President and CEO of ATX Networks, Whalen brings extensive experience in the broadband and video sectors. Previously, he held key roles at ADTRAN and Arris International. CEO Patrick Harshman expressed optimism about Whalen's contributions to Harmonic's growth in cable access and video markets. Whalen aims to support the company’s objectives of growth and profitability as it strengthens its position in the virtualized CMTS market.

Harmonic reported strong Q2 2021 results with revenue reaching $113.4 million, a 53% increase year-over-year. The Cable Access segment saw revenue growth of 89% to $50.1 million, while the Video segment increased by 34% to $63.3 million. Gross margin improved to 53.3% (GAAP), and adjusted EBITDA was $9.5 million. A book-to-bill ratio of 1.6 indicates strong demand, with a record backlog of $347.2 million. Despite a net GAAP loss of $2.0 million, the outlook remains positive.

Harmonic (NASDAQ: HLIT) is set to release its second quarter 2021 financial results after market close on August 2, 2021. A live webcast will be held at 2:00 p.m. PT to discuss the results, available on the Harmonic Investor Relations website. An audio version will be accessible via phone, and a replay can be obtained post 5:00 p.m. PT on the same platform. Harmonic specializes in virtualized cable access and video delivery solutions, enhancing the capabilities of media companies and service providers globally.

Harmonic (NASDAQ: HLIT) announced a significant advancement in live content delivery by implementing public cloud support for Dolby Vision HDR. This integration into its VOS cloud streaming platform and XOS software aims to enhance UHD HDR live production, reducing costs for broadcasters while ensuring high-quality streaming experiences. The adoption of Dolby Vision allows operators to meet diverse HDR delivery requirements and accelerates time-to-market for UHD HDR services. This move is a major step forward in delivering superior video quality to consumers.

Harmonic (NASDAQ: HLIT) announced that Claro Perú will use its CableOS Cloud-Native Core Platform for next-gen broadband services. This partnership allows Claro to deliver multi-gigabit broadband efficiently, enhancing subscriber experience while reducing power consumption and operational costs. The deployment includes innovative DAA architecture and R-PHY node segmentation, enabling rapid capacity expansion. Harmonic's analytics tools will provide real-time visibility, ensuring robust service quality. This collaboration positions Claro for future broadband needs as demand for high-speed internet continues to surge.

Harmonic (NASDAQ: HLIT) announced that Mola TV is utilizing its VOS360 cloud streaming SaaS for the first-ever live UHD HDR streaming of UEFA Euro 2020 in Indonesia. This service enhances Mola TV's streaming workflow, ensuring high reliability and real-time scaling. Mola TV emphasizes the significance of UHD HDR for high-profile sports events, which could enhance audience engagement. Harmonic's EyeQ AI-based encoding technology improves streaming quality, backed by a dedicated support team, ensuring optimal performance during live sports broadcasts.

Harmonic (NASDAQ: HLIT) announced that Telefonica Spain has adopted its VOS360 cloud streaming platform for disaster recovery of the Movistar+ service. This deployment allows for reliable infrastructure replication in the cloud, optimizing resources and enabling instant scaling of live channels. Using a pay-per-use model, Telefonica can flexibly manage costs according to demand. The VOS360 platform ensures service continuity and rapid activation, enhancing overall reliability and flexibility for streaming services.