Harmonic (Nasdaq: HLIT) reported earnings on April 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 29 (Q1), Harmonic whiffed on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue shrank significantly. Non-GAAP earnings per share shrank to a loss. GAAP loss per share grew.

Gross margins increased, operating margins dropped, net margins dropped.

Revenue details
Harmonic booked revenue of $101.7 million. The six analysts polled by S&P Capital IQ expected sales of $113.9 million on the same basis. GAAP reported sales were 20% lower than the prior-year quarter's $127.7 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.02. The five earnings estimates compiled by S&P Capital IQ predicted $0.01 per share. Non-GAAP EPS were -$0.02 for Q1 against $0.03 per share for the prior-year quarter. GAAP EPS were -$0.07 for Q1 against -$0.06 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 45.4%, 340 basis points better than the prior-year quarter. Operating margin was -14.2%, 740 basis points worse than the prior-year quarter. Net margin was -8.4%, 250 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $124.0 million. On the bottom line, the average EPS estimate is $0.07.

Next year's average estimate for revenue is $507.4 million. The average EPS estimate is $0.29.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 291 members out of 310 rating the stock outperform, and 19 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give Harmonic a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Harmonic is hold, with an average price target of $5.75.

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