A global leader in video infrastructure solutions, Harmonic Inc. (NASDAQ:HLIT) declared on Tuesday its preliminary results for the quarter ended March 30, 2012.
Net revenue for the Q1 of 2012 is at the present anticipated to be in the range of $125 million to $128 million, evaluated with the firm`s earlier guidance of $132 million to $142 million. Non-GAAP gross margin is now anticipated to be in the range of 46 percent to 48 percent, evaluated with the Company`s earlier guidance of 50 percent to 52 percent.
Non-GAAP operating costs are estimated to be in the range of $56 million to $57 million, in line with the Company`s before guidance. Non-GAAP income a share is projected to be in the range of $0.02 to $0.03 a diluted share.
Harmonic Inc. (NASDAQ:HLIT) dropped -4.23% or -$0.21 to close the trading at $4.75 following it hit intra day high level of $4.92. The total traded volume in the previous trading session was 2.52 million shares as compared to average 836,835.00 shares. Its fifty two week trading range was $3.85 – $9.74. The total market capitalization reached $556.20 million.
The stock price was ahead its 52 week low price with 23.38% and it lagged behind -51.23% from its 52 week maximum mark. Stock price volatility for last month remained 3.19%. In its share capital, the company has 117.09 million outstanding shares out of which 115.46 million shares have been floated in the market. For now, stock ownership with company’s management remained 1.35%.
HLIT presented a pessimistic weekly performance of -12.20% with respect to its rate of return and it remained -18.38% for the month. However, the performance for a quarter experienced a negative change of -7.95% and it slumped -50.52% for a year and its year to date performance remained in red with -5.75%.
Current stock price is in the downbeat territory taking into account of 20 days moving average with -13.15% and continued bearish run for 50 days moving average with -19.30%. Its earning per share for the past twelve months was $276.54. Company’s beta coefficient was at 1.46. Beta measures the amount of market risk associated with market trade.
Sector analysis, most of stocks slid as Cisco Systems, Inc. (NASDAQ:CSCO) declined -2.05%, TriQuint Semiconductor (NASDAQ:TQNT) plunged -1.52%, Bank of America Corp (NYSE:BAC) slipped -4.37%, Intel Corporation (NASDAQ:INTC) moved down -1.12%, Arris Group, Inc. (NASDAQ:ARRS) which also decreased -2.33% and JDS Uniphase Corporation (NASDAQ:JDSU) slid -2.99%.
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