Harmonic slips to loss, but bookings up
By Julian Clover
In a mixed set of results the technology provider Harmonic reported a year-on-year fall in net sales for both the second quarter and first half of 2009.
Net sales in Q2 were $81.3 million, compared to $89.3m in the second quarter of 2008 and $67.8 million for the first quarter of 2009. For the first six months of 2009, net sales were $149.0 million, compared to $176.6 million in the same period of 2008.
“We’re pleased with our sequential growth in net sales and bookings and our continued execution in managing operating expenses,” said Patrick Harshman, president and chief executive officer. “Although we continue to see softness in global customer spending compared to last year, our customers are responding well to our new products and solutions and we remain confident in our long-term growth prospects.”
The Sunnyvale, California company was able to point to growth in bookings for the second quarter that at $81.3 million, up from $56.6 million in the previous quarter.
There was also a shift back towards the US domestic market that took 57% of revenue for the second quarter of 2009, compared to 47% in the first quarter of 2009.
Harmonic reported a second quarter net loss of $7.9 million, compared to a $25.5 million profit in Q2 2008, though the 2009 figures include restructuring charges following the acquisition of Scopus Video Networks.