Harmonic president and chief executive Patrick Harshman says a global slowdown in the company’s video business led to “disappointing” results in the second quarter.
Publishing its preliminary results the video delivery company said it was anticipating revenues between $108 million and $110 million, well short of the previous range of $113.0 million to $123.0 million.
Harshman said company’s were waiting for the arrival of Harmonics’s new virtualized approaches for delivering video services. “This video slowdown was particularly pronounced among EMEA and North American Broadcast and Media customers, where we also saw several anticipated projects delayed and growing consideration of the new Ultra HD format and new HEVC compression technology,” he said, warning that in a transitioning video market he was consequently cautious about near-term results.
North American Cable performed better amid strong demand for cable edge products.
