Harmonic Q1 “impacted by soft spending”
May 3, 2017
Harmonic, the global player in video delivery infrastructure, has announced its unaudited results for the first quarter of 2017.
GAAP net revenue for the first quarter of 2017 was $82.9 million, compared with $113.1 million for the fourth quarter of 2016 and $81.8 million for the first quarter of 2016. Bookings for the first quarter of 2017 were $82.1 million, compared with $116.9 million for the fourth quarter of 2016 and $109.6 million for the first quarter of 2016.
“Our first quarter results were impacted by softer than expected service provider spending in the final month of the quarter,” said Patrick Harshman, Harmonic’s President and Chief Executive Officer. “Looking ahead, our opportunity pipeline gives us confidence that our Video business segment will rebound and deliver on our targeted year-over-year growth. In our Cable Edge segment, first quarter CableOS trials and deployments were executed as planned and we continue to anticipate volume purchases in the second half of the year.”