Harmonic Inc. (NASDAQ:HLIT) changed -3.68% to recent value of $6.81. The stock transacted 1025679 shares during most recent day however it has an average volume of 739.04K shares. It spotted trading -20.54% off 52-week high price. On the other end, the stock has been noted 53.38% away from the low price over the last 52-weeks.

On Oct. 26, 2020, Harmonic Inc. (NASDAQ:HLIT) disclosed its unaudited results for the third quarter of 2020.

Q3 Financial and Business Highlights

Financial

  • Revenue: $94.9 million, down 18.0% year over year.
  • SaaS and service revenue: $31.6 million, down 3.1% year over year.
  • Gross margin: GAAP 51.6% and non-GAAP 52.2%, compared to GAAP 65.3% and non-GAAP 67.0% in the year ago period.
  • Cable Access segment revenue: $40.3 million, down 27.7% year over year.
  • Video segment revenue: $54.6 million, down 9% year over year.
  • Cable Access segment gross margin: 48.9% compared to 77.1% in the year ago period.
  • Video segment gross margin: 54.6%, compared to 57.7% in the year ago period.
  • Adjusted EBITDA: $7.2 million compared to $32.0 million in the year ago period.
  • Operating income (loss): GAAP loss $1.6 million and non-GAAP income $4.2 million, compared to GAAP income $22.5 million and non-GAAP income $29.9 million in the year ago period.
  • EPS: GAAP net loss per share $0.06 cents and non-GAAP net income per share $0.03 cents, compared to GAAP net income per share $0.12 cents and non-GAAP net income per share $0.25 cents in the year ago period.
  • Cash: $70.8 million, up $4.1 million year over year.

HLIT has a gross margin of 54.50% and an operating margin of -1.30% while its profit margin remained -5.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained 73.10% for this year while earning per share for the next 5-years is expected to reach at 23.70%.

The company has 96.73M of outstanding shares and 93.86M shares were floated in the market. According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 11.20% from the mean of 20 days, 14.67% from mean of 50 days SMA and performed 14.52% from mean of 200 days price. Company’s performance for the week was 6.74%, 30.71% for month and YTD performance remained -12.69%.