Harmonic Inc - HLIT STOCK NEWS

Harmonic (NASDAQ: HLIT) has unveiled a new upstream gigabit technology for cable operators, compatible with current cable modems and set-top boxes. This innovation, part of Harmonic's CableOS core software and Ripple+ network edge platform, addresses the increasing demand for bandwidth, particularly during remote work and online learning. Comcast is the first to trial this technology. Key features include full-spectrum bandwidth delivery and seamless evolution from traditional setups to fiber-to-the-home systems, ensuring optimal performance even during power outages.

Harmonic (NASDAQ: HLIT) announced significant deployment milestones, now powering over 2 million cable modems worldwide with its CableOS virtualized access solution. This includes 1.4 million modems connected through distributed access architecture (DAA), supported by over 10,000 Remote-PHY devices. Harmonic has achieved 11 new customer deployments this year, including major wins in Finland, Canada, and Asia, bringing global deployments to 38. The company will showcase innovations at the upcoming SCTE•ISBE Cable-Tec Expo.

Harmonic (NASDAQ: HLIT) announced the IBC 2020 Edition of its Live Connection digital event, set to engage the global video streaming and broadcast community. The event includes webinars by industry experts, a virtual showroom showcasing innovations, and one-on-one meetings with Harmonic personnel. Starting Sept. 10, the virtual showroom will feature new technologies like the VOS360 Live Streaming Platform and cloud solutions. Attendees will gain insights on streaming innovations, highlighting advancements in live sports streaming, and optimizing OTT delivery with analytics.

Harmonic (NASDAQ: HLIT) announced today that CEO Patrick J. Harshman will join a fireside chat at the Jefferies Virtual Software Conference on September 15, 2020, at 3:00 PM PT. The management team will also attend two other conferences: the Jefferies Semiconductor Summit on September 1 and the Colliers Institutional Investor Conference on September 10. A replay of the fireside chat will be available on Harmonic's website for 90 days. Harmonic is a leader in virtualized cable access and video delivery solutions, enhancing video streaming and internet services worldwide.

Harmonic Inc. reported a Q2 2020 revenue of $74.0 million, a 12.8% decline year-over-year. Despite this, the company saw significant growth in its Cable Access revenue, which surged 100% to $26.5 million, and a 4.3% increase in SaaS and service revenue, totaling $31.8 million. The gross margin was 51.0%. Operating losses increased to $9.6 million GAAP, with an EPS loss of $0.16. Cash reserves improved by $19.6 million to $77.7 million. The company anticipates a profitable second half of the year.

Harmonic (NASDAQ: HLIT) announced Vodafone's rollout of its Gigabit internet service across Germany, utilizing Harmonic's CableOS virtualized access solution. Vodafone, Europe's largest cable operator, is increasing gigabit household access as part of its digital transformation. Harmonic's technology enables efficient deployment and scalability of gigabit networks. This adoption highlights Harmonic's position as a leader in cable broadband technology.

Harmonic (NASDAQ: HLIT) has partnered with SES to upgrade technology related to the C-band transition for 5G. This alliance involves deploying Harmonic's XOS media processing and XOS Edge transcoding solutions, ensuring SES's C-band customers can maintain video service quality. The deployment aligns with SES's plan filed with the FCC on June 19, 2020, and is expected to enhance bandwidth efficiency in satellite delivery networks. This partnership is pivotal for the communications sector, aiding the transition to 5G while safeguarding critical video services.

Harmonic (NASDAQ: HLIT) partners with Millicom (NASDAQ: TIGO) to develop a cloud-based wireline broadband architecture in Latin America. Harmonic's CableOS^® solution will be deployed across nine countries, supporting Millicom's expansion goal of adding over 1 million new homes annually. This partnership aims to enhance broadband capacity and adapt to increasing internet consumption. Millicom's strategy incorporates a hybrid centralized and distributed access approach, ensuring flexibility and responsiveness to market demands.

Harmonic Inc. (NASDAQ: HLIT) is set to release its second quarter 2020 financial results post-market on August 3, 2020. The company will host a live webcast at 2:00 p.m. PT to discuss the results, which can be accessed via its Investor Relations website. Harmonic is a leader in virtualized cable access and video delivery solutions, focusing on enabling ultra-high-quality video streaming and gigabit internet services. The press release emphasizes the company's innovative approaches to content delivery in a rapidly evolving digital landscape.