Harmonic dipped slightly in the first quarter, following the sale of its Cable Access HFC business.
The technology company recorded net revenues of $101.7 million (€78.17 million), compared with $118.0 million for the fourth quarter of 2012 and $116.4 million for the first quarter of 2012. Harmonic returned to loss making territory of $9.5 million, compared with a GAAP net income for the fourth quarter of 2012 of $0.9 million and GAAP net loss of $8.7 million in the first quarter of 2012.
“Harmonic continues to execute on our organic growth strategy and shareholder value initiatives,” said Patrick Harshman, President and Chief Executive Officer. “During the quarter, we saw year-over-year growth in orders from international customers and domestic broadcast and media customers – both verticals core to our strategic growth plan. Although demand from domestic pay-TV service providers remained soft during the quarter, many domestic customers are beginning to look ahead to new video infrastructure investments in emerging CCAP, HEVC, and Ultra HD technologies”.
Harshman said Harmonic was making good progress in establishing itself in a market-leading position in these new technological areas.